Do you want more time to prepare your federal tax return? Then apply for a filing extension.
What is a Filing Extension?
Requesting a filing extension means that you are asking the IRS for additional time to file federal tax forms, giving you more time to collect the necessary details to complete them.
But, if you owe money to the IRS, the payment deadline will not change, even if you are granted the extension. Also, you will still need to furnish statements to recipients by the deadlines.
You can apply for an extension of time to file the following forms:
- W-2
- W-2G
- 1042-S
- 1094-C
- 1095
- 1097
- 1098
- 1099
- 3921
- 3922
- 5498
- 8027
What are the Requirements for Filing an Extension?
To receive an extension, you must need additional time to file your returns accurately. According to the IRS, if you are requesting an extension for Forms W-2 or 1099-MISC reporting NEC only (now 1099-NEC), you must meet one of the following criteria:
- The filer suffered a catastrophic event in a federally declared disaster area that made the filer unable to resume operations or made necessary records unavailable
- Death, serious illness, or unavoidable absence of the individual responsible for filing the information returns affected the operation of the filer
- Fire, casualty, or natural disaster affected the operation of the filer
- The filer was in the first year of establishment
- The filer did not receive data on a payee statement such as Schedule K-1, Form 1042-S, or the statement of sick pay required under section 31.6051-3(a)(1) in time to prepare an accurate information return
How Can I Request an Extension?
To request an extension, you must file Form 8809, Application for Extension of Time To File Information Returns. Currently, to apply for a filing extension for Forms W-2 and 1099, you can only submit the paper form to: Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0209. Learn more from the IRS at this link.
When you submit Form 8809, it must be postmarked between January 1 and the due date of the return. Requests will not be accepted after the due date. Instead, the IRS will charge late penalties, which starts at 5% for each month your return is late. Learn more about IRS penalties at this link.
If you don’t meet the requirements listed above, sign up for a free eFile360 account here and start filing your 1099, 1098, and W-2 forms.