Filing for an Extension 

If you’re not able to file your federal income tax return on time, you can file for an extension for an additional six months to file your federal income tax return. To request an extension, you must estimate the amount of tax you owe and pay this amount by the April due date. If the IRS believes that your estimate was not reasonable, it may void your extension. 

What If You Owe?   

One of the biggest mistakes you can make is not filing your tax return because you owe money. If your return shows a balance due, file and pay the amount in full by the due date, if possible. If you can’t pay what you owe, file the return and pay as much as you can afford. You’ll owe interest and possibly penalties on the unpaid tax, but by being proactive and filing on time, you’ll limit the penalties assessed. You may be able to work with the IRS to pay the remaining balance in installments. Owing taxes or having a tax payment installment plan can negatively affect your credit rating as well as keep you from buying a car, getting a mortgage, or being hired for a job.

Protect Yourself from Tax Identity Theft    

Tax-related identity theft occurs when someone uses a stolen Social Security number (SSN) to file a false tax return to claim a fraudulent refund. You may not even know this has happened until you file your return and receive a notice from the IRS that more than one return was filed using your SSN. Email phishing scams can include links to bogus websites intended to mirror the official IRS website. These emails instruct consumers to “update your IRS e-file immediately.” The sites may ask for information used to file false tax returns, or they may carry malware, which can infect computers and allow criminals to access your information. Remember, the IRS does not initiate contact with taxpayers by email, text messages, or social media to request personal or financial information. If you suspect you are a victim of tax identity theft, continue to pay your taxes and file your tax return, even if you must file a paper return. Also, file a report with the IRS.