Members of the U.S. military have more flexible rules regarding tax payment, in recognition of their service. If you're a member of any American military branch, here's what you need to know about tax extensions:
Tax Extensions for Soldiers Deployed Overseas
If you are serving overseas during tax season, you are automatically granted a two-month extension, with no paperwork required and no payments or penalties assessed. If you need more than two months, you can e-file IRS Form 4868 online right here at FileLater, and get an income tax extension until October 15.
This extension is designed for personnel serving in non-combat areas. If you are deployed in a combat zone, or move to one from a non-combat area while overseas, see below.
Tax Extensions for Soldiers Deployed in Combat Zones
If you are serving or have recently served in a combat zone, you have additional options for tax extensions. You are allowed an extension that equals:
The amount of time served in a combat zone before taxes are due
Any time spent continually hospitalized due to injuries sustained in a combat zone (up to five years)
180 days on top of the two time periods calculated above
This extension includes the tax preparation time you would have had if you weren't serving overseas. For example, if you deployed March 1, you would earn a 226-day extension - 180 days for the automatic extension, plus the 46 days between March 1 and April 15.
During this extension period, no penalties or interest will be assessed on your taxes. This extension applies to any and all taxes due, whether from income, investments, capital gains or anything else.
Remember, this tax extension applies only to your time served directly in a combat zone. If you are initially deployed to a non-combat area, and are then moved to a combat zone, your tax extension will only be calculated from the date you arrive in the combat zone.
FileLater provides a secure online solution for individuals and businesses seeking to e-file an IRS income tax extension. FileLater is an authorized IRS e-file