CHARLOTTE, N.C. — In less than a week, taxes are due. Next Monday, you need to have your taxes filed in order to not face any penalties; however, if you need more time, can you ask for an extension?
THE QUESTION:
Can you file an extension for your 2021 taxes?
OUR SOURCES:
THE ANSWER:
Yes, you can file an extension for your 2021 tax return. However, you must pay your estimated taxes owed by the due date, so you don't face any penalties.
WHAT WE FOUND:
Chief tax information officer Mark Steber said you still have time to file an extension, but you have to do it before the due date of April 18.
"A few things to keep in mind, you have to file the federal 4868 and any associated state reciprocal by the deadline, you cant file it afterward or it will be an invalid extension," Steber said.
According to the IRS, you can file the extension through a tax professional, tax software, or on the IRS website. Steber said an extension to file your taxes doesn't mean an extension to pay your taxes.
Contact Meghan Bragg at mbragg@wcnc.com and follow her on Facebook, Twitter and Instagram.
"It's not an extension of the time you need to pay you still have to pay, and frankly, you have to work through the numbers, so you kind of have to do your tax return," Steber said.
The IRS states:
An extension gives taxpayers until October 17, 2022, to file their 2021 tax return, but taxes owed are still due on April 18, 2022.
People who do not pay their taxes on time will face a failure to pay penalty.
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