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Issue Number:? ? IR-2024-76Inside This IssueIRS: Free File provides quick, easy way to file an extension WASHINGTON ? As the end of tax season draws near, the Internal Revenue Service reminds taxpayers there?s an easy way to get a tax filing extension through the Free File program. A tax filing extension guarantees the taxpayer six additional months to file ? with an extended deadline of Oct. 15, 2024. The IRS Free File program is one of the easiest ways to get an extension. Although an extension grants extra time to file, it does not extend the obligation to pay taxes due on April 15, 2024. To avoid penalties and late fees, taxpayers who owe should pay either their full tax bill or at least what they can afford to pay by the April 15 deadline. Taxpayers in Maine and Massachusetts have until April 17 to file and pay taxes due this year. This is because these states observe the Patriots? Day holiday on April 15 this year and April 16 is the Emancipation Day holiday in the District of Columbia. Free File makes filing an extension easier Free File also is one of the options available to help taxpayers file their taxes. Now in its 22nd filing season, taxpayers across the nation can access free software products provided by IRS Free File trusted partners by visiting IRS.gov. Through this public-private partnership, tax preparation and filing software providers make their online products available to eligible taxpayers. Eight private-sector Free File partners provide online guided tax software products this year to any taxpayer with an Adjusted Gross Income (AGI) of $79,000 or less in 2023. Free access to online products is only available by starting from IRS Free File. Make a payment, get an extension Extensions are automatic for some taxpayers
Keep in mind Taxpayers reduce the overall amount of tax subject to interest and penalty charges by paying as much as they can by the due date. The interest rate for an individual?s unpaid taxes is currently 8%, compounded daily. The late-filing penalty is generally 5% per month and the late-payment penalty is normally 0.5% per month, both of which max out at 25%. The IRS will work with taxpayers who cannot pay the full amount of tax they owe. Other options to pay, such as getting a loan or paying by credit card, may help resolve a tax debt. Most people can set up a payment plan on IRS.gov to pay off their balance over time. ? Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
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