If your income is low, you may be able to get an income tax extension. The extension allows you to file your tax return after the original due date. There are a few requirements that must be met in order to receive an income tax extension. First, you must be unable to file your return on time because of financial reasons.
Once you have requested tax payment extension and filed Form ,your payments will be automatically extended until we receive your return or notice that it has been filed.
Image Source: Google
Second, you must have filed all of your previous tax returns on time. Finally, you must request the extension through the IRS online service or by mail. If all of these requirements are met, the IRS will generally grant you an extension.
There are a few factors that the IRS considers when determining whether to grant an income tax extension. First, the IRS will consider how long it will take you to prepare and file your return. Second, the IRS will consider how much money you would lose if your return is not filed on time.
Third, the IRS will consider whether filing on time would result in unfairness or burden to other taxpayers. Generally speaking, the sooner you file your return, the less money you will lose in taxes and the lesser burden it will impose on other taxpayers.