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How to Protect Demand For Extension Of Payment Date

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What does payment extension mean?

WHAT IS A PAYMENT EXTENSION? A payment extension moves a payment or payments to a later date to help customers during a temporary period of financial hardship. However, if you are considering a payment extension, there are some things you should know as well.

How do I get an extension on my IRS payment?

You can get an automatic six-month extension when you make a payment with IRS payment options, including Direct Pay, debit or credit card, or EFTPS and select Form 4868 or extension. If you do so, theres no need to file Form 4868, Application for Automatic Extension of Time to File a U.S. Individual Income Tax Return.

How far can you extend a car payment?

Most lenders allow car loan payment deferment for up to three months. Very few lenders allow you to skip payments for as long as six months. However, the lender could consider the option if you have a good credit score, consistent payment history, and your current financial circumstances.

Can you file an extension for payment?

You can get an automatic extension when you make a payment with Direct Pay, the Electronic Federal Tax Payment System or by debit or credit card. When paying electronically, you must select Form 4868 as the payment type and the payment date to get the automatic extension.

What is an extension on a car loan?

In general, a payment extension allows you to defer a certain number of monthly paymentsusually one or twountil a later date, providing a brief break for borrowers suffering unexpected financial hardships or a natural disaster.

Can you make an extension payment after the deadline?

More In File An extension of time to file your return does not grant you any extension of time to pay your taxes. You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties. You must file your extension request no later than the regular due date of your return.

What does an extension on a car payment mean?

In general, a payment extension allows you to defer a certain number of monthly paymentsusually one or twountil a later date, providing a brief break for borrowers suffering unexpected financial hardships or a natural disaster.

Does a payment extension hurt your credit?

Deferring your loan payments doesnt have a direct impact on your credit scoresand it could be a good option if youre having trouble making payments. Putting off your payments can impact your finances in other ways, though.

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