Extension of Time to File
April 7, 2014 – TaxTalk Blog
Oh yeah, here it comes again! The tax filing due date is quickly approaching. And you are not ready and haven’t filed. So now what? Leave town? Ignore it and hope it goes away (it won’t!), or just turn yourself in to the authorities and throw yourself on the mercy of the court?
Seriously, though, it is possible you just can’t get your state tax return filed by the April 15 filing due date. And it’s not really a crisis. But it does present a dilemma, as there can be penalties involved for not filing on time. The solution is to get an extension of time to file.
Extensions come in two basic categories, based on whether you owe additional tax or expect to get a refund (or to break even).
First, let’s talk about what to do if you haven’t paid enough tax for this year, and expect to owe when you file.
An extension of time to file extends the time you have to get all your information together so you can file. That said, it does not extend the time to pay any tax you may owe. The tax is still due on April 15, 2014.
Here’s how a state extension (Form IT-9) works for you:
- Figure how much you expect to owe. I know, I know; if you can do that why get an extension? Why not just go ahead and file? Well, you may have to wait to file until you get all the necessary paperwork (like a W-2 form or a missing 1099 form). Or maybe you need your spouse’s signature, and your spouse is out of town.
- Pay at least 90 percent of the tax you expect to owe.
- File your tax return by June 16, 2014, and pay any additional tax due at that time. While interest will be due with this payment, the penalty will be waived.
- Note – If you have followed these steps AND you have a valid federal extension of time to file (Form 4868), you have until Nov. 17, 2014 to file with us and pay the remaining amount due. Just remember that interest will be due with the amount you pay after April 15, 2014.
Here are two ways to file for an extension with Indiana:
- To figure how much you owe and to pay online by credit card or electronic check, visit www.in.gov/dor/epay/index.html
- Download Form IT-9, figure how much you owe and mail in your payment with the IT-9.
Now, if you are expecting a refund, or expect to break even, and you can’t file by April 15, you’ll still need to file for an extension. But, you have a couple of options.
Here’s how an extension works for you if you don’t owe:
- If you have filed for a federal extension of time to file (probably federal Form 4868), then you won’t need an additional extension for Indiana filing purposes. In fact, this extends your filing period with Indiana to November 17, 2014.
- If you don’t have a federal extension, just complete Form IT-9, get it postmarked by April 15, and file your tax return by June 16, 2014.
For military personnel needing an extension, there are special filing considerations. The Department of Revenue’s Information Bulletin 27 can give you details about extensions, taxability of income, deductions, and a range of information for those serving in the military. Also, if you or your spouse is serving in a combat zone, check out our information on combat zone issues for tax information specific to your situation.
Finally, if you are planning on mailing your tax return (or extension payment) in the late evening hours of April 15, call the U.S. Postal Service ahead of time. While several branches used to stay open until midnight on tax day, last year only a handful did.
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