Form 740-EXT: Kentucky Application for Extension of Time to File

Form 740-EXT, also known as Kentucky Application for Extension of Time to File, is a document used by taxpayers in Kentucky to request an extension to file their Kentucky income tax return (Form 740). It grants you additional time beyond the standard filing deadline, which is typically April 15th of each year.

Who Needs Form 740-EXT?

A. Federal Extension Holders: If you already filed for a federal extension using Form 4868, you generally don't need a separate Kentucky extension. Simply attach your approved Form 4868 to your Kentucky return when you file it.

B. Estimated Payment Due: However, even with a federal extension, you might still need Form 740-EXT if you owe Kentucky income tax and want to avoid late payment penalties. The extension grants you more time to file, but taxes owed are still due by the original deadline (typically April 15th).

Common Reasons for Using Form 740-EXT

Incomplete Records: You're still gathering necessary documents like receipts, tax forms (W-2s, 1099s), or investment statements.

Unexpected Illness: You or a close family member experienced a medical situation that prevented timely filing.

Military Service: You're on active duty in the military and stationed overseas.

Natural Disaster: Your home or business was affected by a natural disaster, hindering your ability to file.

How Long Does a Kentucky Extension Last?

Federal Extension: If you have an approved federal extension, Kentucky automatically grants you an extension until October 15th. You just need to attach a copy of your Form 4868 to your Kentucky return.

Form 740-EXT: This form can grant you an extension of up to six months from the original due date.

How to File Form 740-EXT?

The Kentucky Department of Revenue offers two ways to file Form 740-EXT:

A. Electronically: This is the preferred method as it allows for faster processing and the option to pay any estimated taxes owed through direct debit.

B. Paper Form: You can download the form 740-EXT attached below and mail it to the address provided on the same form.

Do I need a Kentucky extension if I have a federal extension?

No, if you have an approved federal extension and don't owe any Kentucky taxes, you don't need a separate Kentucky extension. However, if you owe Kentucky taxes, you'll need to file Form 740-EXT with your Kentucky return.

What happens if I miss the deadline without an extension?

Filing late without an approved extension can result in late filing penalties and interest charges on any taxes owed.

Is there a guarantee my extension request will be approved?

The Kentucky Department of Revenue reviews each extension request on a case-by-case basis. Providing a valid and well-explained reason for the delay increases your chances of approval.

Can I get an extension beyond six months?

Generally, a six-month extension is the maximum granted through Form 740-EXT. In rare circumstances, you may be able to request an additional extension by contacting the Kentucky Department of Revenue directly.