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Haven’t filed your taxes yet? Here’s how to get an extension from the IRS.
If you’re one of the millions of Americans who have procrastinated filing their taxes ahead of the April 15 deadline, there is a way to get some breathing room: File for an extension.
The step gives taxpayers until October 15 to file their federal tax returns, and the process is fairly quick — and also free. About 90 million people have filed their 1040s with the IRS as of March 29, the tax agency says. But as it expects about 128.7 million tax returns this year, that means almost 40 million people have pushed off filing until the last two weeks of the regular tax season.
Almost half of Americans delay working on their taxes, a new survey from tax prep company TaxAct found. Many are stressed by the task, but more than 1 in 4 is worried about owing money to the IRS, the study found.
“Some people don’t want to pay the balance due, and say, ‘I’ll let the government come after me,'” Mark Jaeger, vice president of Tax Operations, at TaxAct, told CBS MoneyWatch.
But other taxpayers may have had a major life event, like the birth of a child, that prompted them to put off their taxes, he noted. Sometimes an individual’s tax forms can be delayed, which then causes the taxpayer to scramble, once the forms arrive, to get their 1040s filed by April 15.
The good news is that getting an extension “is actually pretty simple,” Jaeger said.
How to request an extension
The IRS will give taxpayers an automatic extension if they file Form 4868. This one-page document asks for basic information such as your name, address and Social Security number.
There’s another way to request an extension that’s even easier, Jaeger said.
“The simplest way is to go through a do-it-yourself tax software or go to the IRS website and make a payment,” he said. “Simply by making a payment, you are filing an extension.”
Indeed, the IRS says it automatically counts payments made by the April 15 deadline as an extension, and by taking that step, you won’t even need to file a separate Form 4868.
You can make a payment via the IRS’ Direct Pay, the Electronic Federal Tax Payment System or with a credit or debit card or digital wallet.
If I get an extension, can I delay paying the IRS?
Nope. That’s because receiving an extension to file isn’t an extension to pay what you owe the IRS.
“Taxpayers who owe should pay their entire obligation, or as much as they can, by the April 15 deadline to avoid penalties and interest,” the IRS said on Thursday.
Knowing how much to pay the IRS can be tricky for people who haven’t yet filed their taxes, but Jaeger recommends looking at your federal tax payment in the prior year. If you paid, for example, $5,000 in the prior tax year, but have only paid $4,000 in the 2023 tax year, you should send the IRS a payment for the $1,000 difference, he noted.
What is the penalty for failing to pay?
The IRS charges a penalty if you don’t pay what you owe the government, the amount if which is based on the percentage of the taxes you didn’t pay.
For instance, if you file an extension and owe the IRS but don’t pay by April 15, you’ll face the penalty. The IRS charges 0.5% of the unpaid taxes for each month, with a cap of 25% of the unpaid taxes.
What is the fine for failing to file?
The IRS also levies a fine if you don’t file or ask for an extension by April 15.
The failure-to-file penalty is 5% of unpaid taxes for each month or part of the month that the tax return is late. The fine is capped at 25% of your unpaid taxes.
People who both neglect to file and fail to pay what they owe won’t have to pay both fines, however. The IRS said it reduces the failure-to-file penalty by the amount of the failure-to-pay penalty for that month, so that the taxpayer will face a combined total penalty of 5% for each month their return is late.
What if I can’t pay what I owe the IRS?
The IRS will set up a payment plan with taxpayers who can’t afford to pay the full amount they owe the tax agency.
Legislation to expand Social Security benefits to millions of Americans passed the U.S. Senate early Saturday and is now headed to the desk of President Joe Biden, who is expected to sign the measure into law.
Senators voted 76-20 for the Social Security Fairness Act, which would eliminate two federal policies that prevent nearly 3 million people, including police officers, firefighters, postal workers, teachers and others with a public pension, from collecting their full Social Security benefits. The legislation has been decades in the making, as the Senate held its first hearings into the policies in 2003.
“The Senate finally corrects a 50-year mistake,” proclaimed Senate Majority Leader Chuck Schumer, a Democrat from New York, after senators approved the legislation at 12:15 a.m. Saturday.
The bill’s passage is “a monumental victory for millions of public service workers who have been denied the full benefits they’ve rightfully earned,” said Shannon Benton, executive director for the Senior Citizens League, which advocates for retirees and which has long pushed for the expansion of Social Security benefits. “This legislation finally restores fairness to the system and ensures the hard work of teachers, first responders and countless public employees is truly recognized.”
The vote came down to the wire, as the Senate looked to wrap up its current session. Senators rejected four amendments and a budgetary point of order late Friday night that would have derailed the measure, given the small window of time left to pass it.
Vice President-elect JD Vance of Ohio was among the 24 Republican senators to join 49 Democrats to advance the measure in an initial procedural vote that took place Wednesday.
“Social Security is a bedrock of our middle class. You pay into it for 40 quarters, you earned it, it should be there when you retire,” Ohio Senator Sherrod Brown, a Democrat who lost his seat in the November election, told the chamber ahead of Wednesday’s vote. “All these workers are asking for is for what they earned.”
What is the Social Security Fairness Act?
The Social Security Fairness Act would repeal two federal policies — the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) — that reduce Social Security payments to nearly 3 million retirees.
That includes those who also collect pensions from state and federal jobs that aren’t covered by Social Security, including teachers, police officers and U.S. postal workers. The bill would also end a second provision that reduces Social Security benefits for those workers’ surviving spouses and family members. The WEP impacts about 2 million Social Security beneficiaries and the GPO nearly 800,000 retirees.
The measure, which passed the House in November, had 62 cosponsors when it was introduced in the Senate last year. Yet the bill’s bipartisan support eroded in recent days, with some Republican lawmakers voicing doubts due to its cost. According to the Congressional Budget Office, the proposed legislation would add a projected $195 billion to federal deficits over a decade.
Without Senate approval, the bill’s fate would have ended with the current session of Congress and would have needed to be re-introduced in the next Congress.
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Saturday is the winter solstice and 2024’s shortest day. Here’s what to know about the official start of winter.
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, in the Northern Hemisphere. The celestial event signifies the first day of winter, astronomically.
What is the winter solstice?
The winter solstice is the day each year that has the shortest period of daylight between sunrise and sunset, and therefore the longest night. It happens when the sun is directly above the Tropic of Capricorn, a line of latitude that circles the globe south of the equator, the National Weather Service explains.
The farther north you are, the shorter the day will be, and in the Arctic Circle, the sun won’t rise at all.
How is the day of the winter solstice determined?
The winter solstice occurs because of the Earth’s tilt as it rotates around the sun.
When the Northern Hemisphere tilts away from the sun, the nights last longer. The longest night happens on the solstice because the hemisphere is in its furthest position from the sun. That occurs each year on Dec. 21 or 22.
This year, it falls on Dec. 21 at 4:21 a.m ET, to be precise.
On the summer solstice, when the northern tilt is closest to the sun, we have the longest day, usually June 20 or 21.
National Weather Service
The solstices are not always exactly on the 21st every year because the earth’s rotation around the sun is 365.25 days, instead of 365 even.
Will days start getting longer after the winter solstice?
Yes. Each day after the solstice, we get one minute more of sunlight. It doesn’t sound like much, but after just two months, or around 60 days, we’ll be seeing about an hour more of sunlight.
When will winter officially be over in 2025?
The meteorological winter ends on March 20, 2025. Then, spring will last until June 20, when the summer solstice arrives.
How is the winter solstice celebrated around the world?
Nations and cultures around the world have celebrated the solstice since ancient times with varying rituals and traditions. The influence of those solstice traditions can still be seen in our celebrations of holidays like Christmas and Hanukkah, Britannica notes.
The ancient Roman Saturnalia festival celebrated the end of the planting season and has close ties with modern-day Christmas. It honored Saturn, the god of harvest and farming. The multiple-day affair had lots of food, games and celebrations. Presents were given to children and the poor, and slaves were allowed to stop working.
Gatherings are held every year at Stonehenge, a monumental circle of massive stones in England that dates back about 5,000 years. The origins of Stonehenge are shrouded in mystery, but it was built to align with the sun on solstice days.
Andrew Matthews/PA Images via Getty Images
The Hopi, a Native American tribe in the northern Arizona area, celebrate the winter solstice with dancing, purification and sometimes gift-giving. A sacred ritual known as the Soyal Ceremony marks the annual milestone.
In Peru, people honor the return of the sun god on the winter solstice. The ancient tradition would be to hold sacrificial ceremonies, but today, people hold mock sacrifices to celebrate. Because Peru is in the Southern Hemisphere, their winter solstice happens in June, when the Northern Hemisphere is marking its summer solstice.
Scandinavia celebrates St. Lucia’s Day, a festival of lights.
The “arrival of winter,” or Dong Zhi, is a Chinese festival where family gathers to celebrate the year so far. Traditional foods include tang yuan, sweet rice balls with a black sesame filling. It’s believed to have its origins in post-harvest celebrations.
Researchers stationed in in Antarctica even have their own traditions, which may include an icy plunge into the polar waters. They celebrate “midwinter” with festive meals, movies and sometimes homemade gifts.