Form 4868 Filing Checklist for 2011 Tax Year
Purpose
Form 4868 allows individual taxpayers to request an automatic 6-month extension to file their 2011 income tax returns. The extension applies to calendar-year and fiscal-year filers and also extends the time to file Form 709 gift and generation-skipping transfer (GST) tax returns.
However, the extension does not extend the payment deadline for income tax, gift tax, or GST tax. Interest accrues on the unpaid 2011 tax from the original due date, and late payment penalties may apply if the tax is not paid by the regular deadline.
Steps to File Form 4868 for 2011
Step 1: Confirm Your Eligibility
Verify that you are filing for calendar year 2011 or a fiscal year ending in 2011. Do not file Form 4868 if you want the IRS to calculate your tax or if you are under a court order to file by the regular due date. These situations disqualify you from using this extension.
Step 2: Determine Your Filing Method
Calendar-year taxpayers may file Form 4868 electronically or on paper. Fiscal-year taxpayers must file a paper Form 4868 and cannot use electronic filing. Electronic filing options include using tax software, paying by credit or debit card, or using the Electronic Federal Tax Payment System (EFTPS).
Step 3: Estimate Your Total Tax Liability
Calculate and enter your expected total tax liability for 2011 on line 4. Use the total tax line from your applicable return form: line 61 for Form 1040, line 35 for Form 1040A, line 10 for Form 1040EZ, line 60 for Form 1040NR, line 17 for Form 1040NR-EZ, or line 5 for Form 1040-PR or 1040-SS.
The IRS requires a reasonable estimate based on all information available to you. If your estimate is found to be unreasonable, the extension becomes void.
Step 4: Calculate Your Total Expected Payments
Sum all payments you expect to report on your 2011 return on line 5, excluding any payment you are making with Form 4868. For Form 1040, use line 72 minus line 68. For Form 1040A, 1040EZ, 1040NR-EZ, 1040-PR, and 1040-SS, enter the total from the specified payment lines.
Avoid double-counting any payments.
Step 5: Compute Your Balance Due
Subtract line 5 from line 4 to determine your balance due. If line 5 exceeds line 4, enter zero on line 6. This calculation shows the amount you still owe, though you may pay any amount on line 7, including paying less than the full balance or nothing at all.
Step 6: Make Your Payment Election
Decide whether to pay part, all, or none of the balance due. Enter the payment amount on line 7.
If paying electronically by credit card, debit card, or EFTPS, record the confirmation number in the designated field and do not file a paper Form 4868.
If paying by check or money order, make it payable to “United States Treasury,” write your social security number, daytime phone number, and “2011 Form 4868” on the payment, and mail it to the appropriate regional address. Do not staple the payment to the form.
Step 7: Complete the “Out of the Country” Section if Applicable
Check the box on line 8 only if you meet the following criteria on the regular due date of your return: you live outside the United States and Puerto Rico with your main place of work outside both, or you are in military or naval service outside both.
If you qualify as “out of the country,” you automatically receive a 2-month extension to file and pay (until June 15, 2012) without filing Form 4868.
By filing Form 4868 and checking line 8, you receive an additional 4 months to file (total 6-month extension until October 15, 2012). Note that interest on unpaid tax accrues from the original April 17, 2012, due date, regardless of extensions, but late payment penalties are assessed from June 15, 2012, instead of April 17, 2012, if you qualify for the automatic 2-month extension.
Step 8: Complete the Form 1040NR/1040NR-EZ Filers Section if Applicable
Check the box on line 9 only if you are filing Form 1040NR or 1040NR-EZ, you did not receive wages subject to U.S. income tax withholding, and your return is due on or after June 15, 2012.
This indicates a different due date for nonresident aliens who are not subject to wage withholding.
Step 9: Submit Form 4868 by the Deadline
File Form 4868 by April 17, 2012, for calendar-year taxpayers. Fiscal-year taxpayers must file by the regular due date of their return.
If filing electronically and making payment via credit card, debit card, or EFTPS, keep the confirmation number for your records. If filing by paper, mail the form to the appropriate IRS Service Center address shown in the instructions based on your state of residence and whether you are including a payment.
Step 10: Understand Payment Requirements and Interest
The extension granted by Form 4868 extends only the time to file, not the time to pay. Any tax owed must be paid by the original due date to avoid interest charges.
Interest accrues from the original due date (April 17, 2012, for calendar-year filers) until the tax is paid in full. If you do not pay at least 90% of your actual 2011 tax liability by the regular due date through withholding, estimated tax payments, or payments made with Form 4868, you may be charged a late payment penalty of 0.5% per month (maximum 25%) on the unpaid amount.
Step 11: Know the Gift and GST Tax Extension Rules
Filing Form 4868 for your 2011 income tax return automatically extends the time to file Form 709 for 2011 gift and GST tax returns. However, this extension does not extend the time to pay any gift and GST tax owed for 2011.
To make a payment of gift and GST tax, use Form 8892. If you do not pay gift and GST tax by the regular due date for Form 709, you will owe interest and may be charged penalties.
Step 12: File Your Actual Tax Return
File your 2011 tax return any time before your extension expires on October 15, 2012 (for calendar-year taxpayers with the full 6-month extension). Do not attach a copy of Form 4868 to your return.
When filing your 2011 return, include any payment made with Form 4868 on the appropriate line: line 68 for Form 1040, line 41 for Form 1040A, line 9 for Form 1040EZ, line 64 for Form 1040NR, line 21 for Form 1040NR-EZ, or line 10 for Form 1040-PR or 1040-SS.
Step 13: Understand Late Filing Penalties
If you file your return after the extended due date, a late filing penalty of 5% per month (with a maximum of 25%) may be charged on the amount owing.
If your return is more than 60 days late, the minimum penalty is $135 or the balance of tax due, whichever is smaller. You may avoid the penalty if you have reasonable cause for filing late by attaching a written explanation to your return when filed.
Step 14: Request Additional Extension if Needed (Taxpayers Out of the Country)
If you are out of the country and need more than the standard 6-month extension, you may request a discretionary additional 2-month extension by sending a letter to the IRS explaining why you need the extra time.
Mail the letter by October 15, 2012, to the Department of the Treasury, Internal Revenue Service Center, Austin, TX 73301-0045. The IRS will contact you only if the request is denied. This additional extension is not available to taxpayers who filed Form 2350.
Step 15: Consider Form 2350 for Special Circumstances
Suppose you need an extension beyond 6 months to meet the bona fide residence test or physical presence test to qualify for the foreign earned income exclusion, foreign housing exclusion, or deduction—file Form 2350 instead of or in addition to Form 4868.
Form 2350 must be filed by the regular due date of your return, and may grant an extension of 30 days beyond the date you can reasonably expect to meet the qualifying tests.
Key Reminders
Always make your tax liability estimate as accurate as possible using all available information.
Filing Form 4868 is automatic and requires no explanation for why you need extra time. The IRS will contact you only if your extension request is denied or if your estimate is deemed unreasonable.
Keep all payment confirmation numbers and receipts for your records.
Remember that extensions provide more time to file, but never extend the deadline to pay taxes owed.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
