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| CNN's Ali Velshi talks about the Aug. 15 deadline for those who requested an extension to file their federal returns. (August 15) |
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NEW YORK (CNN/Money) -
If you're one of the record estimated 9.1 million people who filed for an extension on federal income taxes, you've got until midnight Monday to have those document postmarked and off the Internal Revenue Service.
Aug. 15 is the deadline for anyone who filled out a form 4868 prior to April 15 asking for more time to pay their taxes.
If you can't make this deadline, it is possible to file for another extension. But, unlike the first four-month extension, the next two-month extension until Oct. 15 is not automatic. You must prove a hardship, such as illness or job loss.
To file for the Oct. 15 extension see the links at the bottom of this IRS Web site, print and fill out the form and mail it back to the IRS. The form can also be found at a local IRS office or filed by a tax professional.
According to an IRS spokesman, unless you paid 90 percent of your estimated tax on April 15, there are financial penalties for filing late.
In 2004, 8.7 million people filed for an extension until Aug. 15 and another 3.5 million people applied for the Oct. 15 deadline.
The IRS spokesman said the number of people filing for tax extensions has increased steadily for the past 20 years.
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