| Do you need more time to prepare your personal tax | | | | include: Form W-2 withholdings (go to your W-2 Box 2 |
| return? Look no further than Form 4868. And if you | | | | to find that); Form 1099-R withholdings (if you received |
| need help completing Form 4868, look no further than | | | | any retirement plan, pension plan or IRA distributions, |
| this article. Here are five tips for completing the | | | | you should have been sent a 1099-R by now. Check in |
| extension form without a glitch. | | | | Box 4 to see if any federal income tax was withheld); |
| Tip 1: Relax. This form is one of the easiest tax forms | | | | quarterly estimated tax payments made via Form |
| on the planet. | | | | 1040-ES (self-employed folks often make these |
| Tip 2: Go to the IRS website to print out a copy of | | | | payments, so look in your checkbook register to see if |
| Form 4868. Or you can use your tax preparation | | | | you made these payments; they were due on April 15, |
| software program to fill it out. Either way, have a copy | | | | June 15, September 15 and January 15). |
| of the form in front of you as you read the rest of this | | | | Line 6 - Balance due. Calculate this by subtracting Line |
| article. | | | | 5 from Line 4. If Line 5 (your payments) is greater than |
| Tip 3: Do you know your full name, address and social | | | | Line 4 (your tax liability), you don't have a balance due. |
| security number? That's all there is to Part I. Put your | | | | Yeah! But if Line 5 is less than Line 4, you have a |
| name and address on Line 1, your social security | | | | balance due and if at all possible, you should send a |
| number on Line 2, and your spouse's social security | | | | payment for that amount to the IRS with Form 4868. |
| number on Line 3 (if you are married and are filing | | | | Line 7 - Amount you are paying. If you have a balance |
| jointly). On to Part II. (There are only two parts to this | | | | due, pay as much of it as possible now. Ideally, you |
| form. I told you this would be easy.) | | | | want to make the entire payment. Otherwise, you'll |
| Tip 4: For Part II, you must provide the following four | | | | eventually receive a bill from the IRS for late payment |
| numbers: | | | | penalties and interest (assuming your tax return |
| Line 4 - An estimate of your 2008 tax liability. For | | | | reports a similar tax liability to the Line 4 amount). |
| some folks, this is the only challenging part of the form. | | | | Tip 5: Be sure to send the form and, if applicable, the |
| You may have to do some number crunching here to | | | | accompanying payment, to the IRS on or before April |
| come up with a reasonably accurate amount. But | | | | 15. Make your check payable to the U.S. Treasury and |
| remember this is only an estimate, and by definition an | | | | check the form instructions for the correct IRS mailing |
| estimate need not be exact. If you are pressed for | | | | address. You can also pay by credit card or electronic |
| time, do the best you can and keep moving. | | | | funds withdrawal; check the form instructions for |
| Line 5 - Total tax payments you made for 2008. The | | | | guidance on that. If you are using a tax preparation |
| three most common sources of federal tax payments | | | | software program, you may be able to e-file the form. |