Need some extra time to file your tax returns? You can easily get an extra 6 months. BUT REMEMBER – an extension only extends the amount of time that you get to FILE your returns, and is NOT an extension of time to pay. If you expect to owe, make payments by the April 15th deadline to avoid penalties and interest!
The EASIEST way to file your own Federal (and Oregon) extension is to simply make a payment through the IRS’s DirectPay page, and make sure you mark it as an EXTENSION PAYMENT. This automatically grants you an extension for the IRS and Oregon without needing to file any additional forms. (If you have business and/or rental income, you may still need to file your own City of Portland extension – more on that below.)
If you aren’t making a payment, file by paper using the forms (below), and you’ll get an automatic extension to file until October 15th, 2020. All extensions MUST be postmarked by April 15th.
Remember: this is an extension of time to file, but NOT an extension of time to pay. Any unpaid tax due as of April 15th will begin to accrue interest and penalties until paid in full. The penalty is a percentage of the amount due.
How do I know how much to pay? You will need to estimate this number yourself, using your last years’ tax return and adjusting for this years income and expenses. If you pay more than you need to, the excess is treated the same as excess withholding, and will be reconciled and applied as appropriate (usually refunded or applied to your next estimated payment) when your return is filed.
Federal: To file a Federal extension, simply complete the few lines on Form 4868, and mail it with your payment to the address indicated on page 4 of the form. If you live in Oregon or Washington, that address is: P.O. Box 7122 San Francisco, CA 94120-7122 Fresno, CA 93888-0045.
What about Oregon? IRS Form 4868 will automatically act as a request for an extension to file your Oregon tax return. However, if you expect to owe tax on your Oregon return, OR if you did not file a request for a federal extension but you need an extension of time to file your Oregon return, you will also need to file an Oregon Extension. As with Federal, the Oregon Extension is an extension of time to file, NOT time to pay.
What if I have Self-Employment or Rental Income and can’t file my returns by April 15th? You may be required to file Tri-Met, Lane County, City of Portland and/or Multnomah county returns. If you expect to have tax due on any of these returns, you must make a payment by April 15th to avoid penalties.
Tri-Met/Lane County SE Tax If you get an extension to file your Oregon Individual Income Tax return, it will also extend your time to file your Tri-Met or Lane County Self-Employment Tax return. Check the “An extension has been filed” box on your Form TM-V or LTD-V, and attach a copy of the extension to the back of your return when you file. However, an extension does NOT grant you more time to pay, so you must make a payment by the original due date of the return to avoid penalties and interest. Complete the Tri-Met SE tax 2019 Voucher or Lane County SE tax 2019 Voucher and send it with your payment. Be sure to use the same name and Social Security number (SSN) or federal employer identification number (FEIN) that you will use on your return when you file, and check the box to indicate “Extension” on the voucher.
City of Portland/Multnomah County You may complete an extension for your City of Portland/Multnomah county return either online or by paper. Click here to file online (requires you to set up or use an existing PortlandOregon.gov account), or download the Portland Multnomah Extension Request to file by paper.