When is the 2018 Tax Season?
Photo by Nataliya Vaitkevich under Pexels License
When is the 2018 Tax Season? Request for a Filing Extension If You Can’t Make It on Tax Day
Tuesday, April 17, 2018, is Tax Day, the deadline for tax filing and payment of any taxes due the United States government. However, this is not the end of the 2018 tax season in the U.S., which began on Jan. 29 this year. This is because taxpayers can still request for a tax-filing extension. You have six months to file your income tax returns with the final deadline set for Oct. 15, 2018.
Nearly 10 million taxpayers are expected to file for an extension this year.
Filing for an extension is easy, free, and just takes a few minutes to complete. There are various reasons why you may not be able to file your tax return on or before the regular April 17 deadline. The good thing is that you need not tell the Internal Revenue Service (IRS) why you’re making a request for a filing extension. This is because the extension is granted automatically as long as you follow the rules.
How to File for a Tax-Filing Extension
Here is a guide on how you can properly file for a tax-filing extension without penalty:
- File for an extension online for free using FreeFile on IRS.gov;
- File for an extension electronically using fillable forms, following the instructions here;
- You can ask your tax preparer to file your tax-filing extension;
- You can also use a service like File Later to file for an extension;
- Complete and mail a federal form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.
Although you have until Oct. 15, 2018 to file your extended federal income tax return, you still need to follow the “timely filing” rules. This means you should get your extension postmarked or e-file accepted by the end of the day on April 17.
Point to Remember in Making Tax-Filing Extension
Here are the blanks you need to fill up when making a tax-filing extension:
- Your name (and spouse’s name if you’re filing jointly) and address;
- Your Social Security number (and spouse’s Social Security number if you’re filing jointly);
- An estimate of your total tax liability for 2017;
- Total of what you have already paid for the 2017 tax year (including withholding and estimated payments); and
- The amount you’re paying, if anything.
Taxpayers need to be reminded that an extension of the time to file does not mean an extension of the time to pay. If you need to make a tax payment by Tax Day and you’re filing for an extension, you should make a payment with your extension request to avoid interest and penalty charges later.
What Taxpayers with Tax-Deduction Claims Need to Do
Taxpayers who donated vehicles to charities like Breast Cancer Car Donations need to be reminded that they need to attach all the documents that support their tax deduction claims when filing their itemized income tax returns. These include the donation receipt, the sales receipt, and Form 1098-C if you’re claiming an amount that’s more than $500 for one vehicle you donated that was sold at that same price. This will ensure the approval of all your claims.
Why Not Donate Again This Year?
If the tax deduction you’re claiming this year makes you feel good for lightening your tax load, then do consider donating a car or whatever vehicle again to Breast Cancer Car Donations this year, so you can once again enjoy a considerable tax deduction next year.
Your new car donations to us will certainly go a long way in bolstering the fight against breast cancer and providing assistance to more needy women victimized by the deadly disease. The proceeds from your car donations will be used by our certified 501(c)3 nonprofit organization partners to carry out their programs that provide free breast health services to uninsured and underprivileged women throughout the country.
Want to Join Our Cause?
If you feel compassion for the tens of thousands of American women suffering from breast cancer, then we invite you to join our cause and donate your old and unwanted vehicle to us. We assure you that the proceeds from the sale of your car donation will be used to empower breast cancer patients and possibly provide effective treatment for their condition. Call us at 866-540-5069 or fill out our online donation form to get started with your car donation.