Planning on filing an extension?

As we all know, tax time is here and the April 15 deadline is quickly approaching. Should you find that you are unable to file by the due date of your return, you can request an extension of time to file. However, it's important to note that an extension of time to file is not an extension of time to pay. You will owe interest on any past-due tax and you may be subject to a late-payment penalty if payment is not made timely. To receive an automatic 6-month extension of time to file your return, you must file Form 4868 by the due date of your return.