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Filing for a tax extension before the deadline

Filing for a tax extension comes with a fee

As April 18th draws near there are still plenty of people who have yet to file their taxes.

So far, the IRS has processed over 100 million individual returns and have issued more than $200 billion in tax returns.

However, the agency said nearly 40 million people have yet to file.

Taxpayers who think they will miss the deadline can request an extension a six-month extension but it will come with a fee.

"Filing the extension is better than doing nothing because there's a one half percent late payment penalty and then there's another one-half percent per month for every month that it's unpaid," said Hogan-Hansen CPA Kevin Ballard.

Ballard said if you are filing an extension you fill out a 4868 form. You can click here for the form.



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