Extension (Form 4868)
The due date for taxpayers residing in the U.S. is April 15th. However, you are allowed an automatic extension to file until June 15th if your main place of business and the home you live in are outside the U.S. and Puerto Rico on April 15th. If you need more time by the end of the 2-month period, you can get an additional 4 months until October 15th if, no later than June 15th, you file Form 4868. If you are filing as married filing jointly, only main taxpayer needs to file Form 4868. If you are filing as married filing separately, you and your spouse need to file Form 4868 respectively
In addition to the 6-month extension, taxpayers who are out of the country can request a
discretionary 2-month additional extension of time to file their returns (December 15th).
To request this extension, you must send the IRS a letter explaining the reasons why you need
the additional 2 months. Send the letter by the extended due date (October 15th).
Caution
An extension to file does not extend the time to pay your tax. If you do not pay your tax by original due date (April 15th) of your return, you will owe interest on the unpaid tax and may owe penalties. Interests and penalties are as follows.
Penalty & Interest
| Interest | Imposed with a federal interest rate of 7-8% based on the number of delayed days |
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| Late Payment Penalty | 0.5% on the unpaid tax for each month, up to 25%
(If you paid at least 90% of the total tax on your prior year return, your penalties will be waived) |
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| Late Filing Penalty | 5% on the unpaid tax for each month, up to 25%.
If your return is more than 60 days late, the minimum penalty is $485 or
the balance of the tax due on your return, whichever is smaller. |
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In case you need an extension for state, please contact us directly as
each state has its own requirements for obtaining an extension.
Service Fee
| Service | USD |
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| Extension (Form 4868) | $25 |
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| Extension for State | $10 / State |
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NOTE
· An extension request can be made electronically; however, if you have not yet received your identification number and need to submit the extension request by mail, additional postage fees will apply.
· If you and your spouse plan to file taxes separately or have not yet decided whether to file jointly, it is safer for each of you to submit a separate extension request.
· Once the extension payment is made, refunds are not possible for returns that have already been extended.
✔ When paying in KRW, the amount will be converted based on the KRW-USD exchange rate.
✔ Please also refer to the 'NOTE' section, as additional charges may apply.
