Now that you've bought up to six extra months by filing an income tax extension, you might be wondering what you need to do between now and your new 2014 tax return deadline of October 15, 2015. We’ve addressed some of the most common questions below:
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How do I know the IRS received and approved my extension?
If you e-filed your extension using TurboTax Easy Extension, you should expect to receive a confirmation email from TurboTax within 48 hours of filing the extension. You can also review the status of your extension anytime by logging into your TurboTax account.
If you mailed your extension to the Internal Revenue Service (IRS), they will not send a confirmation. As long as it was postmarked by midnight local time on April 15, 2015, the IRS should accept it.
Keep in mind that extensions only increase the amount of time you have to file, not the deadline to pay any taxes due. If you think you do owe taxes this year, you’re required to send in an estimated payment to the IRS by April 15, 2015, along with your extension request to avoid paying any penalties or interest later.
What can I do if I filed an extension but didn't send an estimated payment?
If you expect to owe taxes and are not yet ready to file, it is important to send in your estimated payment to the IRS as soon as possible to minimize paying any penalties and interest.
To get help estimating your taxes, use TurboTax Online.
Can I e-file my tax return to the IRS after April 15, 2015?
Yes. With TurboTax, you can complete your tax return and e-file for free at any time through October 15, 2015.