When is the Tax Extension Deadline?

Posted by Madison on October 15, 2014

If you filed for a tax extension last April today, October 15, 2014, is the tax extension deadline for your 2013 tax return.

The original 2014 tax deadline for your 2013 tax return was on April 15, 2014. If you filed Form 4868 you got an automatic extension, which is due six months after the April tax deadline.

Tax Deadline Postmark

Whether or not you meet the tax extension deadline is based on the postmark on your taxes. You must have your taxes postmarked by the deadline, but the IRS doesn’t need to receive your taxes by the 2014 tax deadline. If you plan to mail your taxes, deliver it to the post office before closing time on October 15, 2014.

Can You Efile an Extended Tax Return?

Yes, you can efile an extended tax return. If you are using TurboTax or another efile option, you’ll also need to submit your return electronically by October 15.

Tax Filing Extension Does Not Extend Payment Deadline

Don’t forget the extension for taxes only pushes back the due date for filing your taxes, not the due date for tax owed. Hopefully, you paid the tax due by the original April 15 tax deadline. You can now reconcile the amount you paid using the Tax Estimator and your final return to get your tax refund. If you did not pay the tax due, you will be subject to penalties.

What if You Miss the Tax Extension Deadline?

If you miss the tax extension deadline today, you should file your tax return as soon as possible! Here’s how to get started on How to File Old and Delinquent Tax Returns. If you are putting off filing because you owe the IRS money, see What are Your Options When You Owe the IRS Money?

File and Amend

If you file today to meet the tax extension deadline, you can amend your tax return to correct mistakes. I wouldn’t plan on making an amendment, but if it’s the only way you can meet the deadline, it might be an option.

Self Employed Retirement Contribution Deadline

If you are self employed, October 15 is also the extended deadline for many retirement plan contributions.

If you have a Solo 401k Retirement Plan that was already set up, the deadline to make contributions is the tax-filing deadline for that year, including extensions. If you Filed an Extension to Lower or Hedge Your Tax Bill with this in mind, October 15 is the last day for solo 401k contributions.

The October 15 deadline also applies to SEP-IRA Retirement Plans. You can establish and fund a SEP-IRA today if you filed for a tax extension. In addition, employer matches for SIMPLE IRA Retirement Plans are also based on the tax extension due date.

It’s important to note that the extended deadlines do not apply to traditional and Roth IRA contributions.

File Your Extended Tax Return Online

If you put off filing until now, it’s time to get it done! Now that you know when the 2014 tax deadline is, you can file your tax return online with TurboTax.

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