Application For Additional Tax Extension

This page is designed to answer many of your Frequently Asked Questions regarding our Additional Tax Extension.

• Who Must File an Extension
• Due Dates, Interest, and Penalties
• IRS Mailing address
• State Tax Extensions

Who Must File an Extension

According to instructions for Form 1040, Form 4868, Form 2688, Publication 17, and IRS Tele-Tax Topic 304, IRS is consistent on the requirement to file a tax extension:

"If you cannot file your tax return by the due date, you must request an extension. This is an extension of time to file, not an extension of time to pay. If you do not file your return by the due date (including extension), you may have to pay a Late Filing penalty."

Reasons to file Form 2688.

1. Filing an extension avoids the 5% per month Late Filing penalty.
2. The Late Payment penalty will not apply during the two months of the 2688 extension period if the unpaid tax is less than ten percent of the total tax liability.
3. Filing an extension online provides you with positive confirmation that your extension was accepted by IRS. You will receive a tracking number known as the IRS DCN that proves you filed.

Due Dates, Interest and Penalties

Due Date for Additional Tax Extension (Form 2688)
Paper-filed extensions are due August 15. Electronically-filed extensions (such as the service available on this site) are also due August 15 (midnight). If you attempted to file an extension by August 15th and were rejected by IRS, a grace-period is granted until August 20 (08:00 AM ET) in order to correct mistakes and resubmit.

In addition, IRS will routinely (but is not required to) accept electronically filed applications until August 20th for taxpayers who did not file by the regular deadline.

Interest
Filing a tax extension gives you more time to prepare your income tax return, eliminates the 5% per-month Late Filing penalty, and in most cases, the Late Payment penalty does not apply during the period of your extension. An extension does not eliminate interest on any outstanding tax balance you may owe. The latest IRS interest rate, as of January 1, 2002 is 6% per year. or 1/2% per month.

Penalties
Two penalties exist relating to non-timely filed returns. They are:

1. The Late Filing penalty: This is a 5% per month penalty on the outstanding tax you owed on April 15. Filing a tax extension eliminates this penalty until until the extended due date. The maximum penalty is 25% or the equilivent of 5 months.
2. The Late Payment penalty: This is a 1/2% per month penalty on the outstanding tax you owed on April 15. The maximum penalty is 25%. This penalty does not apply during the period of your extension if the unpaid tax is less than 10% of your total tax liability.

IRS Mailing addresses:

Internal Revenue Service Center

(no street address required when mailing to above)

State Tax Extensions

Generally, if you do not owe state income tax, no extension is required but if you do owe state income tax, an extension form should be filed with your state. Some states accept copies of the federal extension form. Other states require you to complete a separate extension form.

Get Form 2268

Download Form 2688 Aplication for Filing Extension from the IRS website in PDF format.