Tax day has come and gone. All tax returns and taxes owed were due April 15th. So what happens if you miss the deadline? Let’s take a look at how to request a New Jersey tax extension.
If, for any reason, you were unable to file your tax returns by April 15th, you will need to apply for an extension of the time to file. If approved, your extension will allow you until October 15th to submit your tax returns. In New Jersey, you must file a separate extension for your New Jersey tax return and your federal tax return. If you are filing a federal extension, you will need to include a copy of that extension application with your NJ tax return. If you are only filing an NJ extension, you can complete the form NJ-630 or file online.
Keep in mind that there is no extension of time to pay your taxes. All taxes owed to the state or the federal government are due on April 15th, regardless of whether or not you have submitted your tax return paperwork. You must pay at least 80% of any taxes owed by April 15th, or you will incur a late filing penalty. Unpaid taxes owed after April 15th can also result in the rejection of your extension.
Don’t ignore your tax return problems. The longer you wait, the more fees and penalties you will incur, increasing the amount you owe. If you are experiencing hardship, payment plans are available to reduce the burden of paying back your taxes.
If you are struggling with filing a New Jersey extension, Halter, CPA can help. We are South Jersey tax pros with the experience and knowledge to help you navigate this tax season and beyond.