Automatic 6 month extension by filing Form 4868 - Application for automatic extension to file:
A taxpayer can get an automatic six months extension to file his/her federal tax return(s). But the return must be postmarked on or before the due date of the return. Note the extension is only for filing the return and not for any taxes due. If any taxes are due IRS might charge interest and penalties.
When you file a federal extension form, it does not automatically extend the time that you have to file your state income tax return. Check with your state. However, CA allows automatic extension without requesting one in writing. If you have a refund coming and you are positive about it, you are ok. However, if you are unsure fill FTB 3519 and use it to estimate any taxes you might owe.
Use form FTB 3519, Payment for Automatic Extension for Individuals, only if both of the following apply: • You cannot file your 2012 return by April 15, 2013. (Note: Fiscal Year Filers, your return is due the 15th day of the 4th month following the close of your fiscal year.) • You owe tax for 2012. IF PAYMENT IS DUE, MAIL TO: FRANCHISE TAX BOARD PO BOX 942867 SACRAMENTO CA 94267-0051
Form FTB 3519 (Payment for Automatic Extension for Individuals)
https://www.ftb.ca.gov/forms/2011/11_3519.pdf
About The Author
Arushi Bhandari,CPA, MBA recently published an eBook “STARTUP Financing, Equity and Tax" with insights about the impact of JOBS Act & Dodd Frank Act on startup funding, terms like angel, accredited investors, venture capitalists, stock options, Restricted Stock, RSUs. It gives in depth examples & templates explaining documents like Term Sheet, Cap Table, Convertible Securities plus the importance of 83(b) filing.
Links to Download Arushi’s eBook Apple iBook: STARTUP Financing, Equity and Tax Kindle edition STARTUP Financing, Equity and Tax
DISCLAIMER: The information provided is intended to educate the readers and a more definite answer should be based on a consultation with a lawyer or CPA.It should not be relied upon as legal advise because the information might be incomplete and answers could change depending upon circumstances and if all facts were known.