Extension Payments No Longer Necessary for Valid MT Extension

Since Tax Year 2017, you no longer need to make a payment to the MT Dept of Revenue by the due date of the return to obtain a valid extension.

All taxpayers can enjoy a six-month automatic extension. As a result, the department removed the extension checkbox and the extension line on Form 2.

However, the automatic extension to file is not an extension to pay.

If you pay all or part of your taxes after April 15, 2019, you will have to pay interest at a 5 percent rate on that amount.
If you file on extension, you may still want to make a payment before April 15 to reduce the interest you will owe.
When making such payments:
  • Choose “Payment with Return” on the Montana Individual Income Tax Payment Voucher or “Return Payment” if you pay via E-check, and
  • Report this payment on line 7 of the “Other Payments and Refundable Credits Schedule” when you file your return.

Popular posts from this blog

2019 Extended Tax Return Filing Deadline

IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches File and pay electronically, request direct deposit for refunds WASHINGTON – The Internal Revenue Service today reminds taxpayers who filed an extension that the Oct. 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before the Oct. 15 deadline. Convenient electronic filing options , including IRS Free File , are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. Although Oct. 15 is the last day for most people to file, some taxpayers may have more time. They include: Members of the military and others serving in a combat zone . They typically have 180 days after they leave the combat zone to file returns and pay any taxes due. Taxpayers in federally declared disaster areas who already had
Read more