What is an extension of time to file?

An extension of time to file refers to a request that allows taxpayers additional time to submit their tax return beyond the original due date. This process is beneficial for individuals or entities who, for various reasons, are unable to prepare their tax returns by the usual deadline. Importantly, an extension does not extend the time to pay any taxes due; it merely postpones the date by which the return must be filed.

When taxpayers file for an extension, they are granted a specific additional period—typically six months—to complete and submit their returns. This mechanism ensures that taxpayers have ample time to gather necessary documentation and prepare an accurate return without facing the potential penalties associated with late filing.

The other options do not accurately represent an extension of time to file. For instance, requesting to expedite processing involves speeding up the review of a return or request but does not pertain to the filing timeline. Similarly, a penalty for late filing is a consequence faced by those who do not file on time, while a clarification of filed taxes involves providing further information on a return that has already been submitted, not extending the timeline for filing.