Filing a Tax Extension? Here's When Your Tax Payments Are Due

If you file a tax extension, you're still responsible for making on-time tax payments.

With less than a month until the federal tax return deadline, many of us have taxes on our minds. If you have yet to file your tax return, you may be thinking of filing a tax extension. An extension will give you until Oct. 17, 2022 to file your return.

However, a tax extension doesn't excuse you from paying your taxes by the federal tax return deadline. Here's what you need to know.

What is a tax extension?

A tax extension gives you more time to file your tax return with the Internal Revenue Service (IRS) -- six months, to be exact. With an extension, you can file your return through Oct. 17, 2022.

If you need more time to get organized, have missing or incomplete tax documents, or are going through a significant life event, you may want to consider filing for a tax extension so you don't rush through the filing process.

It's easy to file for a tax extension, and you don't need to have a specific reason or excuse to qualify.

You have three options for filing an extension:

1. Print out, complete, and mail IRS Form 4868.
2. Use online tax software to file an extension electronically.
3. Make a federal tax payment using one of the electronic payment options provided by the IRS. The IRS will automatically process an extension of time to file when you electronically pay all or part of your estimated income tax.

Some taxpayers get an automatic extension

Some taxpayers may be eligible for an automatic extension.

For example, taxpayers who live and work outside of the United States and Puerto Rico and active-duty military members outside of the U.S. and Puerto Rico are eligible for an automatic 2-month extension.

Additionally, military members serving in a combat zone are eligible for an automatic extension.

Taxpayers impacted by national disasters may also be automatically eligible for an extension. The IRS provides information and outlines extension dates for each disaster. You can check coveted disaster areas and learn more on the IRS website.

Make your tax payments by April 18 to avoid fees

A tax extension can be helpful, but it doesn't excuse you from making on-time tax payments.

For the 2021 tax year, plan to pay your taxes on or before April 18, 2022.

You can keep more money in your bank account by making timely tax payments. If you don't make a payment by this date, you'll be subject to interest and penalty fees.

If you're not sure how much money you will owe, do your best to estimate the amount.

Use tax software to handle your tax matters

If you're feeling anxious about filing your tax return, help is available.

By using online tax software, you can file your return faster. Most tax software guides taxpayers through the process and provides additional free resources to explain confusing tax situations.

Some tax preparation companies also offer additional paid resources like live, online help from tax professionals, or in-person tax support if you need extra assistance.

Check out our best tax software list to find the right tax software for your needs.