There are two ways to receive an automatic 6-month extension to file your Georgia income tax return:
Get an extension to file your Federal return
You do not need to request an extension to file your Georgia return if you receive a Federal extension. The due date for filing your Georgia return will be automatically extended with an approved Federal extension. Attach a copy of Federal Form 4868 or the IRS confirmation letter (if you request a Federal extension electronically) to the Georgia return when filed. Contact the IRS at 1-800-829-1040 or visit their website at www.irs.gov to obtain Form 4868 and additional extension information.
or
Submit Georgia Form IT-303, if you don't need a Federal extension
You must mail Form IT-303 before the statutory return due date and attach a copy to the return when filed. We will notify you only if your extension request is denied.
An extension to file cannot exceed 6 months and does not extend the date for paying the tax.
Tax must be mailed, along with Form IT-560, by the statutory due date for filing the return to avoid late payment penalty and interest. The amount paid should be entered on Form 500, Page 2, Line 20.
After a complicated tax season marked by IRS processing delays and more complicated returns for many following pandemic-related changes to the tax code, Tax Day is here.
Monday, April 18 marks the deadline to file and pay any 2021 federal income taxes you owe. If you haven’t filed yet, or did file your return but haven’t paid your balance, now is the time to take action.
“A lot of tax law has changed in the past year, and there’s a lot of confusing stuff. More time gives you more of a chance of getting it right,” says Michele Cagan, CPA, founder of Single Mom CPA and author of “Debt 101.”
But don’t panic if you’re still unprepared: the IRS has options to further extend your filing deadline, plus payment plans available if you don’t have enough cash to pay your balance in full before the deadline.If you need more time to file, request an extension from the IRS to delay your due date until Oct. 17, 2022. Anyone can apply for an automatic extension by filing Form 4868 through the IRS Free File software.
However, if you are able to file and pay your taxes owed today, do it.
You can complete your tax return and submit payment online via the IRS’ Free File service, which is available to filers whose income is $73,000 or below. If you’re ineligible for Free File, you can use an online third-party service such as TurboTax or H&R Block, or submit your return by mail, as long as it’s postmarked by April 18. Otherwise, an extension is a good option.
“A lot of people think that if you file an extension, somehow that puts you at risk for an audit or you get in trouble for filing an extension. That’s not true at all,” says Cagan.
But you should remember that this is a filing extension only. If you owe the IRS money, you’re still obligated to pay by April 18. Any taxes you owe after April 18 will be subject to interest, which accrues daily, as well as monthly penalties.
Learn more about penalties and interest on the IRS website.
How to file an extension online
You can file an extension online via IRS’ Free File software for free or you can use a third-party tax software, like Jackson Hewitt or H&R Block. The form will be submitted to the IRS electronically. If you work with a tax professional, may also be able to electronically file an extension on your behalf.If you think you’ll owe money when you file, you should submit a payment when you file for an extension, too. The form offers different options for payment, including electronic transfer.
How to file an extension by mail
Experts recommend filing online if possible, but you may choose to print and manually complete Form 4868 line-by-line using the IRS’ step-by-step instructions. You’ll need to estimate your tax liability to determine if you owe anything when filling out the form. You can submit your payment via check or money order, using the instruction on the form.
When filing for an extension by mail, make sure you have proof that you submitted the form on or before the April 18 deadline to avoid any penalties.
What To Do If You Owe Taxes
When you file your extension, you’ll need to include an estimate of your taxes owed on the form, which can help you determine the payment amount you should submit when filing. Use last year’s tax return, along with your W-2 and forms for other income sources (such as 1099s) to estimate.
The IRS offers a tax calculator to help you figure out your total tax obligation using your pay statements most recent tax return. To determine what you still owe, subtract any amount you’ve already paid toward taxes.
If you submit your estimated payment through IRS Direct Pay and indicate that the payment is for an extension, the IRS will automatically count your payment as an extension, even if you haven’t filed Form 4868.
If you don’t have the money to pay what you owe in full right now, any amount that you are able to contribute can help reduce the penalties and interest you’ll be charged in the future.
“If you are in a tough spot and don’t know if you’ll owe because you haven’t had a chance to get your documents together, the best thing to do is to file an extension with both the IRS and your state and make an extension payment — that way you’ll avoid penalties,” says Ally-Jane Ayers, CFP, co-founder and financial planner at Brooklyn FI.
For further flexibility, take time to apply for a short-term payment plan or long-term installment agreement with the IRS to spread your balance out over time with a lower monthly payment.
If you decide to use a payment plan, complete the application today. You can apply for a plan online and receive an immediate notification of whether you’ve been approved.
What To Do If You Owe State Taxes
Filing a federal tax extension with the IRS only covers your federal tax return.
However many state tax agencies set their state filing deadlines on or around April 18, too. Check your state’s tax website to find your 2021 state tax due date. In some cases, you’ll need to file for an extension both federally and with your state.
The guidelines and deadlines can vary by state. For instance, if you are granted a federal tax extension as a North Carolina resdient, you’ll also be automatically granted a state tax extension for North Carolina taxes. You’ll need to show proof that the extension was approved, and it will be for the same amount of time that the IRS grants — six months (Oct. 17).
But some states, such as New York, require you to request a separate extension using by filing a form with the state. If you know you need an extension, it’s best to check your state’s requirements now to make sure you file in time. Remember to complete any required documents and keep proof that you submitted.
Whether your state tax extension is automatic or not, state extensions also do not apply for taxes owed. If you think you owe, you’ll need to submit payment of your estimated tax obligation by your state’s tax deadline.
What To Do If You Expect a Refund
Even if you don’t owe any money to the IRS, you should still make sure your return is filed by the deadline to receive your refund — and any stimulus money you may still be owed — as quickly as possible.
Still, prepare to be patient: The IRS continues to face processing delays (especially if you file by mail) due to its large backlog and implementation of last-minute tax changes. Double check your return for any mistakes or inaccuracies to best ensure it’s processed and your refund issued as quickly as possible.
After you file, you can check the status of your refund using the Where’s My Refund tool on the IRS website.
Bottom Line
Act quickly to file and pay your taxes owed by the tax deadline, but remember to approach your situation with a clear head and know the facts, Ayers says: “Stay calm and lean on the IRS website for help.”
Take time today to develop your action plan. Go ahead and file your return and pay online if you’re able; otherwise, file for an extension until Oct. 17, pay what you can of your estimated balance, and apply for a payment plan if necessary.
Updated Wed, Mar 30 2022 12:47 PM EDT
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The Apr. 18 tax filing deadline is fast approaching. If you haven't filed your taxes for the 2021 tax year yet and aren't sure you'll be able to complete them in time, you still have time to file an extension.
People file tax extensions for many reasons. Whether you're missing the right tax documents, are grappling with a family emergency or simply lost track of time, anyone can file an extension until Oct. 15, 2021.
However, filing an extension is a process. If your tax documents are sitting there, waiting to be filed, the easiest thing to do may still be to bite the bullet and file. Tax prep programs such as TurboTax and H&R Block offer live chat and phone support that can help you address any lingering, last-minute questions that are causing your taxes to loom large and fill you with dread.
But if knocking out your taxes before the deadline isn't possible, Select details what you need to know about filing a tax extension with the IRS.
If you're filing an extension, you'll need to submit IRS Form 4868 electronically by the tax deadline. You can use Free File to electronically request an automatic tax-filing extension or print the form and mail it to the IRS address for your state, making sure it's postmarked with adequate postage by Apr. 18.
Using the Form 4868, taxpayers filing an extension must estimate their tax liability, or the amount of taxes they owe on their 2021 income. On Part II of the form, you'll enter your expected tax liability, rounding to the nearest dollar, using the tax rate category you're expected to fall under.
Remember that everyone must pay the taxes they owe by Apr. 18, even if they are filing an extension. Failure to do so will likely result in interest fees and/or late payment penalties, which can make this whole tax season even more expensive.
Filing an extension electronically through one of the major online tax filing programs, such as TurboTax Extension, can help you better estimate your tax liability and avoid surprise fees from the IRS.
The rules vary from state to state. Since each state has its own tax-filing extension rules, check your state's tax agency website before assuming you're in the clear.
Learn More
On TurboTax's secure site
Terms apply, see below for our methodology.
- Step-by-step guidance with a Q&A format that is easy to follow
- TurboTax Live provides on-demand advice and a final review from a tax expert
- Live Full Service has a tax expert prepare, sign, and file your return
- Accuracy and maximum refund guaranteed*
- Audit support, which provides free assistance if you get an IRS or other tax notice
- More costly than other software programs
- Live expert assistance plans have additional costs
Cost breakdown by plan:
- Free (For simple tax returns only. See if you qualify): $0 federal, $0 per state
- Deluxe (helps you maximize credits and deductions): $39* federal, $39* per state
- Premier (includes returns with investments and expenses): $69* federal, $39* per state
- Self-employed (for personal and business income and expenses): $89* federal, $39* per state
- Live Basic (includes help from tax experts): for a limited time, $0* federal, state included - simple tax returns only; must file by 3/31
- Live Deluxe (includes help from tax experts): $119* federal, $49* per state
- Live Premier (includes help from tax experts): $169* federal, $49* per state
- Live self-employed (includes help from tax experts): $199* federal, $49* per state
- Full Service Live Basic (includes help from tax experts): for a limited time, $0* federal, state included - simple tax returns only; must file by 2/15
- Full Service Live Deluxe (includes help from tax experts): $249* federal, $49* per state
- Full Service Live Premier (includes help from tax experts): $359* federal, $49* per state
- Full Service Live self-employed (includes help from tax experts): $389* federal, $49* per state
*Click here for TurboTax offer details and disclosures
**A simple tax return is Form 1040 only.
Learn More
On TaxAct's secure site
Terms apply, see below for our methodology.
- Up to $100,000 accuracy guarantee, which reimburses you for IRS/state penalty or interest if the TaxAct software causes a calculation error in your return
- More affordable than other paid software
- One-on-one support from real tax experts (costs extra)
- Maximum refund and 100% accuracy guarantee, or TaxAct will refund the plan fees you paid and pay any difference in the refund or tax liability, plus cover any legal or audit costs up to $100,000
- Free plan charges per state return
- Xpert help plans cost at least $35 more for federal
Cost breakdown by plan:
- Free (only covers simple returns): $0 federal, $39.95 per state
- Deluxe (helps you maximize credits and deductions): $38.36 federal, $54.95 per state
- Premier (includes returns with investments and expenses): $57.56 federal, $54.95 per state
- Self-employed (for personal and business income and expenses): $75.96 federal, $54.95 per state
- Xpert Help Free (includes help from tax experts): $70.00 federal, $39.95 per state
- Xpert Help Deluxe (includes help from tax experts): $93.36 federal, $54.95 per state
- Xpert Help Premier (includes help from tax experts): $127.56 federal, $54.95 per state
- Xpert Help Self-employed (includes help from tax experts): $160.96 federal, $54.95 per state
Learn More
On H&R Block's secure site
Terms apply, see below for our methodology.
- Simple step-by-step guidance that's easy to follow
- Unlimited on-demand chat or video support with Online Assist plans
- Ability to speak to a tax expert who has an average of 10 years experience (costs extra)
- Over 11,000 physical locations so you can meet with a tax expert in-person
- Maximum refund guarantee, or H&R Block will refund the plan fees you paid
- Audit support guarantee, which provides free assistance if you get an IRS or other tax notice
- 100% accuracy, or H&R Block will reimburse you for any penalties or interest up to $10,000
- Plans that include speaking with a live tax expert start at $69.99 for federal, plus additional state fee
- One of the more costly software programs
Cost breakdown by plan:
20% off DIY online tax filing - offer ends April 18, 2022
- Free (for simple returns): $0 federal, $0 per state
- Deluxe (helps you maximize credits and deductions): $43.99 federal, $44.99 per state
- Premium (includes returns with investments and expenses): $59.99 federal, $44.99 per state
- Self-employed (for personal and business income and expenses): $91.99 federal, $44.99 per state
- Online Assist Basic (includes help from tax experts): $69.99 federal, $0 per state
- Online Assist Deluxe (includes help from tax experts): $109.99 federal, $44.99 per state
- Online Assist Premium (includes help from tax experts): $159.99 federal, $44.99 per state
- Online Assist Self-employed (includes help from tax experts): $194.99 federal, $44.99 per state
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.