Time Extension For Tax Return In Chicago
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Individual income tax returns are typically due April 15, unless the date falls on a weekend or holiday or you file Form 4868 seeking an extension until October 15.
Due Date/Extension to File Income Tax Return (2024 IL-1040) We grant an automatic six-month extension of time to file your return. If you receive a federal extension of more than six months, you are automatically allowed that extension for Illinois.
Cons of filing a tax extension If your estimate is not correct and you owe taxes when you file your return on October 15, you will owe penalty and interest charges. ing to the IRS, as of 2023, the interest rate is currently 7% compounded daily.
You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic extension of time to file your return. You must request the extension of time to file by the regular due date of your return to avoid the penalty for filing late.
Request an extension by mail File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. You can file by mail, online with an IRS e-filing partner or through a tax professional.
Cons of filing a tax extension If your estimate is not correct and you owe taxes when you file your return on October 15, you will owe penalty and interest charges. ing to the IRS, as of 2023, the interest rate is currently 7% compounded daily.
More In Help. You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic extension of time to file your return. You must request the extension of time to file by the regular due date of your return to avoid the penalty for filing late.
We calculate the Failure to File penalty in this way: The Failure to File penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late.
