See our Updated Trader Tax Center pages.

See our Extension blog article dated March 29, 2012

OLDER CONTENT: There aren't 2nd extensions anymore, the automatic extension is for 6 months.

First read about extensions on our main extension page. Click here.

To learn more about an automatic extension for filing individual income tax returns,

To get blank forms and instructions on filing automatic extensions,

Don't forget about filing your Mark-to-Market Election with your extension,

Click here to learn more about IRS penalties and interest.

Ready for a consultation with a GTT CPA

Automatic extension for filing individual income tax returns

Individuals are allowed an automatic six-month extension to file their income tax returns – i.e., from April 15 to Oct. 15. The application is made on Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return).

Topic 304 - Extensions of Time to File Your Tax Return. Click here for this page on the IRS site.

Topic 301 - When, Where, and How to File. Click here for this page on the IRS site.

Blank Forms & Instructions for the 1st Automatic Extensions

Go to and search Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return). Calendar year corporate extensions are due March 15.

Click on these State Links and go to your home state.

Don't forget about filing your current year Mark-to-Market Election with your Extension

Qualifying traders who want to elect mark-to-market accounting treatment for the current tax year need to do so by April 15th. You can attach the election to your federal extension filing, providing the extension is filed on time. See our book for all the information you need and the election statement to use.

If you are a Preparation client, we take care of all this for you (extensions and MTM elections). By default, we are planning to attach the MTM Election to the extensions of all of our trader clients who do not have MTM for the current tax year. We will consult with you before April 15 about the merits of MTM.




Highlighted Recent Recordings:

*Entities & Employee-Benefit Plans
*Current Developments in Tax Law that Affect Traders
*Accounting for Traders
*The Section 1256 club is hard to get into: Futures on foreign exchanges often donít qualify
*Puerto Ricoís tax haven status
*Entities: A key update on trading entities and management companies
* 2013 Tax Filings For Traders & 2014 Tax Planning
*Forex Tax Treatment & Planning
*Trader Tax Law Update: Current Developments
*2014 Tax Planning & Will an Entity Help Lower Your Tax Bill?
*Audits of Performance Records

New Website

Trader Tax Center

Tax Newsletter & Calculators

Highlights (see the full archive):

Aug 19: Foreign partners in a U.S. trading partnership can be tax free Read More

Aug 13: IRS warns Section 475 traders Read More

June 20: Tax treatment for Nadex binary options Read More

June 19: IRS softens its stance for some taxpayers with undeclared offshore accounts Read More

June 12: IRA rollover rule changes Read More

June 6: Bitcoin is not reported on 2013 FBARs Read More

June 5: Tax deadlines in June: U.S. residents abroad and FBAR Read More

June 2: Tax treatment for foreign futures Read More

May 21: Bitcoin tax update: Can business traders apply Section 475 elections to bitcoin trades? Read More

May 13: Puerto Ricoís tax haven status is tailor made for investors, traders and investment managers Read More

May 6: Entities: A key update on trading entities and management companies Read More

Mar 25: IRS guidance on bitcoin transactions will chill its use Read More

Feb 27: Another trader tax court loss (Assaderaghi) Read More

Feb 1: Net investment tax details Read More

Dec 4: IRS final regulations for Net Investment Tax help traders. Read More

Dec 3: Bitcoin is a hot commodity, but is it taxed like commodities, assets, or currencies? Read More

Nov 15: Another non-business trader gets busted in tax court trying to cheat the IRS. Read More

Nov 6: Hedge fund investors depend on ďassuranceĒ from quality independent CPA firms. Read More

Oct 29: ObamaCare taxes are starting to affect traders. Read More

Aug 30: The Tax Court Was Right To Deny Endicott Trader Tax Status Read More

Aug 18: Common trader tax mistakes Read More

July 24: Learn the DOs and DONíTs of using IRAs and other retirement plans in trading activities and alternative investments Read More

GreenTrader blog archive, Forbes blog, Benzinga blog.


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