Many years ago, there was a division-wide meeting for all of the Windows product team. A local convention center was rented out for the occasion, buses were hired to shuttle employees to and from the venue, the usual “very large meeting” nonsense.
The meeting happened to be scheduled for April 15, which is the day that individual income taxes are due in the United States.
The organizers of the meeting recognized this, and when employees entered the lobby to check in for the meeting, the organizers provided copies of Form 4868: Application for Automatic Extension of Time To File U.S. Individual Income Tax Return to anyone who wanted one, as well pre-addressed envelopes for mailing it in.
It was a cute joke, but I saw people taking advantage of it, so maybe it was for practical purposes after all.
As someone with practically no knowledge about U.S. taxes, I wonder how the extension is automatic when you have to apply for it.
It is automatically approved, provided you meet the criteria.
You also have to pay your estimated taxes (if you owe) at the time you file for the automatic extension. So you have to have already completed your taxes to file for an extension to complete your taxes or risk interest and penalties if you find out later you owe but did not pay on 15 April.
Right, it’s an “Extension of time to file, not an extension of time to pay”. I think you are charged interest on any additional money owed when you finally do file at the extended deadline.