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Estimate your taxes: Along with Form 4868, you’ll need to estimate how much tax you owe. This helps the IRS process your extension request. This helps the IRS process your extension request.
The IRS Free File Program is a service that allows U.S. taxpayers to prepare and e-file their federal income tax returns for free. Through the program, commercial tax software companies that are part of the Free File Alliance offer free tax preparation software to tax filers with annual adjusted gross income (AGI) below $73,000 for Tax Year 2022.
For tax year 2023, this means that the standard deduction for singles is $13,850, up from $12,950, while joint filers will enjoy a bump of $1,800 in their standard deduction, to $27,700.
Here are the 2023 tax brackets: For individual filers: 10% for income below $11,000. 12% for incomes over $11,000. 22% for incomes over $44,725. 24% for incomes over $95,375.
For the 2023 tax year, the extension deadline is typically Oct.15, 2024. However, keep in mind that an extension to file does not grant an extension to pay any taxes owed.
The filing deadline to submit 2022 tax returns (or an extension to file and pay tax owed) is Tuesday, April 18, 2023. Taxpayers requesting an extension will have until Monday, Oct. 16, 2023, to file.
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