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How to prepare PDF IRS Form 1127-A
About Form 1127-A
Form 1127-A is a document used by individuals or businesses that are requesting an extension of time to pay their federal taxes. It is an Application for Extension of Time for Payment of Income Tax for Individuals, Estates, and Trusts. Taxpayers who are unable to pay their tax liability by the due date can use this form to request additional time to pay their taxes without incurring penalties. The IRS may grant an extension of up to six months from the original due date of the tax return. To be eligible for an extension of time to pay, the taxpayer must show that paying the tax on the due date would result in undue hardship. The IRS will consider factors such as illness, casualty losses, and natural disasters when determining whether to grant an extension. Form 1127-A must be filed before the due date of the tax return and must include a detailed explanation of the taxpayers financial situation and how an extension would alleviate their hardship.