For some meeting the April 15th tax deadline may not be possible. For those unfortunate enough to find themselves in this position, a simple filing of a Form 4868 or Automatic Extension of Time to File will allow them to extend the deadline by six-months.

The extension gives filers until October 15th to file the tax return.

A delay in filing tax returns will also result in a delayed payment of the economic stimulus payment, that is for qualifying recipients. Stimulus payments are based on each persons tax returns.

An extension of time to file is not an extension of time to pay, all taxes should be paid by April 15th. Any outstanding balance will accrue interest and possibly penalties, and therefore increase the total amount owed. If the full amount cannot be paid by the 15th, the IRS recommends that people should pay off as much as they can to minimize the interest and penalty charges.

Last minute reminders can be found at the link below and for any and all tax information visit: http://www.irs.gov/individuals/article/0,,id=118506,00.html