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Automatic 6-Month Extension Granted to File Federal Income Tax Returns
Extended Deadline to Avoid Penalties
The Internal Revenue Service (IRS) is offering an automatic six-month extension to file individual federal income tax returns this year. This extension applies to all taxpayers, regardless of income level or filing status. The original deadline for filing income taxes was April 15, but the IRS has extended the deadline to October 15, 2023, providing taxpayers with additional time to gather necessary documents and file their returns.
Filing for the Extension
To take advantage of the six-month extension, taxpayers do not need to file any special forms or provide a reason for the extension. The extension is automatic and applies to both paper and electronic returns. However, it is important to note that the extension only applies to the filing deadline. Taxpayers are still required to pay any taxes owed by April 15 to avoid penalties and interest.
Avoid Penalties by Filing on Time
While the six-month extension provides additional time to file, it is crucial for taxpayers to file their returns on or before the extended deadline to prevent penalties and interest charges. Penalties may apply if taxpayers fail to file their returns by the deadline or pay the taxes owed. To avoid these charges, taxpayers are encouraged to file their returns as soon as possible or seek professional assistance from a tax preparer if necessary.
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