Question

What does Form 4868 allow a taxpayer to do?

1) Obtain a six-month extension on filing and paying federal taxes without penalty.
2) Receive a refund for overpaid taxes.
3) Reduce the amount of taxes owed.
4) Avoid filing federal taxes altogether.

Answer 1

Form 4868 allows a taxpayer to obtain a six-month extension on filing and paying federal taxes without penalty.

Step-by-step explanation:

Form 4868, also known as the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, allows a taxpayer to obtain a six-month extension on filing and paying federal taxes without penalty.