• File an extension for additional time to file your tax return.A young woman holding a pen, doing her taxes image by Christopher Meder from Fotolia.com
  
  An automatic extension of time is available for taxpayers who cannot submit their tax return to the Internal Revenue Service by the deadline. Extensions allow individuals an additional six months to file their return. Taxpayers can extend their corporate or their individual income tax returns with an extension. All taxpayers are eligible to file for an automatic extension.
  
  

Types of Extensions

• Form 4868 is the automatic extension of time for individual taxpayers. The 4868 extends individual income tax return forms such as the 1040, 1040A and 1040EZ. Form 7004 is the automatic extension of time for business tax returns.
  
  

Time Frame

• Form 4868 must be received by the Internal Revenue Service on or before the April 15 deadline for individual income tax returns. The IRS accepts form 4868 after April 15 if the postmark reflects that the form was mailed on or before the 15th. The 4868 gives taxpayers until Oct. 15 to file their individual income tax returns without penalty. Form 7004 must be mailed to the IRS no later than March 15. This extension gives business taxpayers until Sept. 15 to file their taxes, unless they file Forms 1065, 8804 or 1041, which allow an additional five months, or until Aug. 15.
  
  

Payments

• Both form 4868 and 7004 extend income tax returns so that taxpayers have more time to prepare their tax returns but they do not extend the due date for income tax payments. If a tax return shows that money is owed to the IRS, a payment must still be made to the IRS on or before the tax deadline. Payments can be made on the IRS website or by mailing a check or money order with the extension. Late payments will incur interest and penalties.