Understanding Tax Extensions
Interactive Video
•
Business
•
9th - 10th Grade
•
Practice Problem
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might someone consider filing for a tax extension?
To avoid paying taxes altogether
To get more time to gather necessary documents
To reduce the amount of taxes owed
To receive a tax refund sooner
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which form is required to file for a tax extension?
IRS Form 1099
IRS Form W-2
IRS Form 4868
IRS Form 1040
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What information is needed when filling out the tax extension form online?
Your bank account number
Your employer's details
Your name, address, and social security number
Your previous year's tax return
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if you don't pay your estimated taxes by the deadline?
You will receive a tax refund
You could face penalties and interest charges
Your tax extension will be canceled
You will be exempt from future taxes
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do if you don't receive a confirmation after filing for a tax extension?
Assume it was processed correctly
Follow up with the IRS to ensure it was processed
File another tax extension
Ignore it, as confirmations are not necessary
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