How to File a Tax Extension With TurboTax

Here's the part people most often misunderstand. A federal extension uses Form 4868 and gives you more time to file your return, typically pushing the deadline to mid-October. What it does not do is give you more time to pay any tax you owe. Payment is still due by the original spring deadline.

This is an independent guide and not affiliated with Intuit.

Since the payment deadline doesn't move, estimate your tax as accurately as you can and pay by the original date. Paying what you can knocks down interest and potential penalties. Even a rough but honest estimate beats paying nothing while you wait to file.

TurboTax gives you a path to file Form 4868. Look for the extension option, answer a few questions, and the program prepares the form. You can usually e-file the extension, which gives you confirmation it was received. Do this before the original deadline.

State extension rules vary. Some states grant an automatic extension when you have a federal one, while others want a separate request. Check your state's requirements so you don't file a federal extension and then miss a state deadline. TurboTax can help with state extensions in many cases.

An extension isn't a reason to forget about your taxes. Mark the extended deadline, usually in October, on your calendar and finish your return well before it. Filing earlier also means you get any refund sooner, since an extension only delays the paperwork, not your money.

Watch out for these:

• Assuming an extension delays payment. It doesn't. Pay by the spring deadline.
• Ignoring the state side of the extension.
• Waiting until the very last day, which leaves no room for errors or technical hiccups.