The IRS extension gives you until Oct. 15 to file the tax return. For this purpose taxpayers must file the IRS extension form 4868.

Remember, a delay in filing your tax return will also delay your receipt of your economic stimulus payment, if you qualify to receive one, since payments are based on the tax return.

Note that an extension of time to file is not an extension of time to pay. You should pay any taxes you owe by April 15; otherwise, the outstanding tax balance will accrue interest and possibly penalties, increasing the total amount you will owe. If you can't pay the full amount that you owe by April 15, pay as much as you can to minimize the interest and penalty charges.

With the deadline approaching, IRS last-minute reminders may be helpful.

Also, you can visit 1040 Central, your one-stop shop for all your tax information needs.

Source: By IRS.gov