Learn about tax extensions, payments, and penalties, and how to manage them effectively, whether you’re a freelancer or traditionally employed. Discover how to avoid costly mistakes and protect your future refunds.

Strategies for tax management, particularly if you're tackling your taxes past the deadline. Grasp the essentials of securing a tax extension with IRS Extension Form 4868 while acknowledging that taxes due by April 15 must still be paid on time. Learn about the potential financial consequences, including tax filing penalties and how they can compound similarly to interest. Freelancers and gig workers will gain insight into the necessity of consistent quarterly taxes to circumvent underpayment penalties. Should you anticipate a tax refund but have delayed your filing, we’ll guide you on how to claim your refund within the crucial three-year limit. Furthermore, for those grappling with tax debt, we outline how to navigate IRS payment plans, providing a safety net for those who cannot settle their tax obligations in full immediately.

Most filers have until April 15. However, in 2024, some may receive an extra day or two, or additional time due to observed holidays or special circumstances.

FOR UPDATES SUBSCRIBE TO OUR YOUTUBE CHANNEL:
🔔   / @moneyinstructor  

How to File a Tax Extension | 2024 for 2023 Taxes | IRS Form 4868
   • How to File a Tax Extension | 2024 fo...  

More Tax information and resources
➡️https://content.moneyinstructor.com/c...

For links to IRS 1040 Forms and Instructions:
➡️https://content.moneyinstructor.com/3...

The federal tax deadline in the U.S. usually is April 15th, but it can change if this date falls on a weekend or due to special circumstances, affecting businesses, individuals, and those abroad differently. Deadlines might also extend for various reasons. To prevent penalties or interest from late filing or payment, keep up with current tax regulations. For accurate information and to ensure on-time tax filing and payment, visit the IRS website or consult a tax professional.

Visit us at MoneyInstructor.com ➡️https://www.moneyinstructor.com/

For more paying taxes lessons and lesson plans:
https://www.moneyinstructor.com/taxes...

RELATED PLAYLISTS:
Taxes:    • Taxes  


WEBSITE: https://www.moneyinstructor.com
TWITTER:   / moneyinstructor  
FACEBOOK:   / moneyinstructor  

Money Instructor has been a leading resource in financial education for over two decades, empowering educators, financial advisors, students, parents, and individuals with essential topics in financial literacy. Our extensive coverage spans personal finance, money management, saving money, budgeting, investing, business fundamentals, taxes and taxation, Social Security, retirement planning, tax credits and refunds, economic stimulus checks and payments, as well as debt management—including credit card debt and interest rates. Additionally, we explore monetary policy, inflation, housing market trends, government legislation, political news, stock market dynamics, economic trends, improving credit scores, career development, housing and rent issues, and strategies for wealth building. By providing educational resources and tools, we help ensure you are well-informed and updated with the latest news and developments in these areas.
------------------------------------------------------------------------------
#taxes
#taxdeadline
#taxextension
#incometax
#taxtips
#taxreturn
#taxfile
#taxpreparation
#taxtime


Money Instructor does not provide tax, legal or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.