EDUCATION CENTER
GTT RESOURCES: EXTENSIONS: 2ND EXTENSIONS

If you are still not ready to file your individual income tax return by Aug.15th, the first extended due date, you are entitled to file a 2nd Extension (for federal taxes) by Aug. 15th. Some states accept the federal extension, but most require their own form. A "granted" 2nd Extension changes your tax return due date to Oct. 15th.

The 2nd Extension is not automatic; for it to be valid, you need to receive it back from the IRS marked "granted." When you file a second extension, you need to include a reason for the extension on the form. The reason can be, "taxpayer is awaiting additional expense documentation or Form K-1s and a complete and accurate tax return can not be filed at this time." For all practical purposes, these extensions are automatic. We have never had one not granted since founding Green & Company CPAs in 1983.

The second extension is filed on an IRS Form 2688, and it must be postmarked by Aug. 15th. This assumes, of course, that you already filed a valid 1st Automatic Extension by April 15th, and that you properly paid your taxes with the first extension.

If and when the IRS sends back your Form 2688 marked "granted," your tax return will be due Oct. 15th.

The 2nd Extension Form 2688 is a very simple, one-page form. It includes your name, address, social security number and a reason why you are requesting this 2nd Extension.

Blank Forms & Instructions for the 2nd Extensions

Go to www.irs.gov and search Form 2688 (Extension of Time to File U.S. Individual Income Tax Return). Calendar year corporate extensions were due March 15; there is only one corporate extension for 6 months until Sep. 15th.

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

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