If you're not ready to file your taxes by April 15, taking a few minutes now to request an extension is a smart financial move that can save you from much larger penalties down the road.

Keep the confirmation number you receive. Use the IRS Free File tool to electronically request an automatic tax-filing extension. Request an extension by mail by filing Form 4868.

Once the tax extension is submitted, individuals still have to file their final return by Oct. 15, but if you miss the October due date, financial penalties will accrue.

Did you know tax extensions can do more than just buy time? Discover how they can enhance your financial strategy. D.C.

If your AGI is above the $84,000 threshold for 2024, the IRS Free File program also offers all filers free electronic fillable forms and the ability to request automatic tax-filing extensions.

Here's how to get the extra time you need. Extension needed You can e-file an extension for free using any of the Free File software offered by the major tax preparation companies.

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