Question
Andrew is self-employed and knows he will have a balance due on his 2022 return, but he is unsure how much. Andrew cannot file his
Andrew is self-employed and knows he will have a balance due on his 2022 return, but he is unsure how much. Andrew cannot file his tax return by the original due date because he needs more time to locate and organize his tax records. Which of the following actions is most appropriate for Andrew?
a. Andrew must calculate an estimated balance due. He should then complete and file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, and include the payment for the estimated balance due no later than April 18th. After April 18th, he should file his return no later than the extension deadline of October 16th.
b. Andrew should estimate what his income and expenses are, file his return, pay the balance due by the original due date of April 18th, and amend the return later.
c. Andrew should file Form 4868 by April 18th to extend his return until October 16th. After April 18th, he should file his return and pay his balance due no later than the extension deadline of October 16th.
d. Since extensions are automatic, Andrew is not required to do anything. He can simply file his tax return and pay his balance due by October 16th
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