Need more time? Just ask the IRS
By Deborah Adamson
Advertiser Staff Writer
If you haven't filed your taxes yet, you aren't alone.
• Tax returns can be dropped off until midnight tomorrow at the downtown post office at 335 Merchant St., and still receive an April 15 postmark. The airport post office will take tax returns until 8 p.m. tomorrow. • State workers will accept tax returns curbside on both Punchbowl and Halekauwila streets from 5 p.m. to midnight Wednesday.
The Internal Revenue Service expects to receive almost 9 million extension requests this year. To avoid penalties, requests must be made by the normal filing deadline tomorrow.
Some post offices open late
Filing an extension is relatively easy.
You don't need an excuse, but if you think you owe money, you have to estimate the amount and pay it. You can adjust the figures later.
Interest charges of 6 percent per year, compounded daily, will apply to any tax not paid by the regular deadline, according to the IRS.
You can file for a four-month extension until midnight tomorrow by using Form 4868, which is for individuals and married couples. The form can be downloaded from www.irs.gov or you can pick one up at any local IRS office. Some public libraries have the form, as well.
You can also call in extensions at (888) 796-1074 through tomorrow. Make sure to fill out the form first and have banking information handy if you're going to pay taxes electronically.
As for state taxes, you've got more breathing room because the deadline is April 20.
To seek an extension for filing your Hawai'i tax return, you need to fill out Form N-101A, according to the state Department of Taxation.
You can download the form at www.state.hi.us/tax or request by phone at 587-7572 or (800) 222-7572 to have it mailed or faxed to you. You also can pick it up at the state tax office at the Princess Ruth Ke'elikolani Building, 830 Punchbowl St., in Honolulu or any district tax office on the Neighbor Islands. Some libraries have the form as well.
For general information about state taxes, call 587-4242 or (800) 222-3229.
You cannot call in an extension for filing Hawai'i tax returns as you can for federal returns. But you can file an extension electronically at www.ehawaiigov.org/efile.
If you owe money, make sure to include the amount due. If you don't or if you don't include enough money, you will be assessed interest at 0.667 percent a month. If paid within 60 days, there is no penalty.
But after that, a penalty of 20 percent of taxes unpaid is applied on top of the interest. If you don't file at all, you would be charged a 5 percent penalty per month on taxes owed.
If you think you're getting a refund, you'll get an automatic extension.
But you have until Aug. 20 to file your regular tax return to get your money.
Reach Deborah Adamson at dadamson@honoluluadvertiser.com or 525-8088.
