Tax Tips 2004 - Extension Form

The clock is ticking towards the filing deadline of April 15th, but you don't think you can get everything ready by the deadline. What do you do? Donna LeValley is contributing editor for JK Lasser Your Income Tax 2004.

"You can get an automatic extension with an IRS form if you don't have the appropriate paperwork or it's just been too overwhelming as you get close to April 15th. You mail the IRS what is known as form 4868 and you can get it on line or at any library. You can also do it by phone. Unfortunately there is no extension to pay your taxes. But if you don't have the money you are still better off filing an extension because any type of interest or penatly for not filing will not occur against you if you file the return (or extension form) by April 15th. "

The extension form 4868 can be downloaded at the irs web site irs dot gov.