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.




Many Webinars in March

Highlighted Recent Recordings:

*Entities & Retirement Plans for Traders
*Trader Tax Law Update: Current Developments
*2013 Tax Reporting & 2014 Planning
*Forex Taxation
*Audits of Performance Records
*Kick-Off to 2013 Tax-Filings for Traders
*ObamaCare taxes are starting to affect traders
*The Tax Court Was Right To Deny Endicott Trader Tax Status
* Investment management: Key updates
*Learn the DOs and DON’Ts of using IRAs and other retirement plans

Trader Tax Center

Tax Newsletter & Calculators

Highlights (see the full archive):

Mar 27: Protect yourself from market losses with a Section 475 MTM election Read More

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

Mar 24: SEC Large Trader Reporting Rule Read More

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

Feb. 1: Net investment tax details Read More

Jan 14: New IRS guidance on SE tax deductions affects partnership AGI-deduction strategies. Read More

Jan 9: A major tax reform bill in 2014 is unlikely, and “tax extenders” may be history, too. Read More

Jan 7: Kick off to 2013 tax filings for traders. 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 “assurance” from quality independent CPA firms. Read More

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

Sept 15: Not Easy For New Yorkers To Escape Big Apple's Tax Bite. Read More

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

August 18: Common trader tax mistakes Read More

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

March 31: PFG investors can deduct theft losses on 2012 tax returns with Rev. Proc. 2009-20 safe harbor relief. That’s great news! Read More

March 5: Caution, downloading securities Form 1099-Bs into TurboTax often leads to incorrect tax filings Read More

Sept 5: High-income traders and ObamaCare’s 3.8% Medicare tax Read More

GreenTrader blog archive, Forbes blog, Benzinga blog.


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