All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Trusted Pioneer
Posts: 7
Registered: ‎02-22-2017

How to submit extension form 4868 submission - if there is no tax liability

As per our calculation we are expecting refund from IRS so what do we enter on part II line 4 on this extension form 4868? 

Tax liability is more than tax withheld(payments) but due to educational credit we are expecting a refund ....on this form there is no provision to enter credit so how do I submit this form....

Without entering credit we will have balance due that means we have to pay IRS that amount?

Valued Pioneer
Posts: 8
Registered: ‎04-18-2017

Re: How to submit extension form 4868 submission - if there is no tax liability

The instructions for Form 4868, indicate to take tax liability from 1040 line 63 (which would be after the nonrefundable portion of the education credit), and payments from 1040 line 74 (which is the total of payments plus refundable credits). 

 

What this essentially means is that if you're expecting to get a refund, there's no need to send a payment with your extension.  Include the expected credit on 4868 line 4 with the other payments.