A step-by-step guide on how to file for a tax extension with the IRS:

1. Gather Necessary Information: Before you begin, make sure you have all the required information handy, including your Social Security number, address, and financial details.
2. Choose Your Method: Decide how you want to file for an extension. You can either use IRS Form 4868 or make a payment to the IRS, which will automatically grant you an extension.
3. Filing Form 4868:
   • Download or obtain Form 4868 from the IRS website or your tax preparer.
   • Fill out the form with your personal information, including your name, address, and Social Security number.
   • Estimate your total tax liability for the year.
   • Calculate any payments you’ve already made towards your taxes.
   • Determine the amount you owe or expect to owe.
   • If you’re mailing the form, make sure to send it to the appropriate IRS address for your state. Check the instructions on Form 4868 for the correct address.
   • If you’re filing electronically, follow the instructions provided by your tax software or online tax filing service.
4. Making a Payment for Extension:
   • Visit the IRS website and navigate to the payment section.
   • Choose your preferred payment method, such as Direct Pay, Electronic Federal Tax Payment System (EFTPS), or credit/debit card.
   • Enter your payment details and the amount you wish to pay.
   • Follow the prompts to complete the payment process.
   • Keep a record of your payment confirmation for your records.
5. Confirmation and Record-Keeping: Once you’ve filed for an extension, make sure to keep a copy of your Form 4868 (if applicable) or payment confirmation for your records. This will serve as proof that you’ve requested an extension in case of any future inquiries from the IRS.
6. Pay What You Owe: Remember that filing for an extension only extends the deadline to submit your tax return, not the deadline to pay any taxes owed. Make sure to pay as much as you can by the original deadline to avoid penalties and interest.

By following these steps, you can successfully file for a tax extension with the IRS and gain extra time to prepare and submit your tax return.