Form M-4868: Massachusetts Income Tax Extension Payment Worksheet and Voucher (2023)
Form M-4868 is an official document provided by the Massachusetts Department of Revenue (DOR) for individual taxpayers who need an extension to file their state income tax return for tax year 2023. It serves two purposes:
Extension Request: While not technically an application form, M-4868 signifies your intent to request an automatic six-month extension to file your MA tax return.
Payment Voucher: The form includes a worksheet to calculate the estimated tax you owe and a voucher section to submit your payment with the extension request.
Who Needs Form M-4868?
This form is relevant for MA residents who anticipate needing more time to gather tax documents, complete their return, or make their tax payment. However, it's important to understand the eligibility requirements:
Automatic Extension: Massachusetts offers an automatic six-month extension to file, but it's crucial to pay at least 80% of the estimated tax owed by the original due date (April 18, 2024, for tax year 2023). This includes any applicable surtax.
How to File Form M-4868?
Step 1: Complete the Worksheet: Fill out the worksheet section to estimate your total tax due for 2023. This involves:
- Entering your expected total tax liability.
- Subtracting any Massachusetts income tax already withheld from your wages (check your pay stubs).
- Factoring in any applicable credits.
- Calculating the amount of tax still due.
Step 2: Review Payment Requirements: To qualify for the automatic extension, you must pay at least 80% of the estimated tax due by the original due date (April 18, 2024). This includes any applicable surtaxes.
Step 3: Submit the Payment Voucher:
- Detach the payment voucher section from the worksheet.
- Fill out the voucher with your information, including the amount you are paying.
- Individuals making a payment of $5,000 or more must pay electronically through https://mtc.dor.state.ma.us/mtc/.
- All other taxpayers can pay online at https://mtc.dor.state.ma.us/mtc/ or mail a check or money order with the voucher to the address provided on the form.
Key Points about Form M-4868:
Not a Traditional Extension Application: Unlike federal tax extensions, you don't need separate approval for the extension. By meeting the 80% payment threshold, you automatically receive the six-month filing extension until October 15, 2024.
Payment is Still Due by April 18, 2024: Even though you have more time to file, the estimated tax amount you calculate on the worksheet must be paid by the original due date to qualify for the extension.
Electronic Payments Required for Large Amounts: If your extension payment is $5,000 or more, you must submit it electronically through https://mtc.dor.state.ma.us/mtc/.
Separate Form for Fiduciary Returns: If you are filing a return for an estate or trust, you'll need Form M-8736 instead of M-4868.
Do I need to file Form M-4868 if I already filed for a federal tax extension?
No. Filing for a federal extension has no bearing on your Massachusetts tax return. However, to qualify for the automatic six-month extension in MA, you must still meet the 80% payment requirement by April 18, 2024.
What happens if I don't pay at least 80% by the original due date?
If your payment falls short of the 80% threshold, you will not receive the automatic extension. You'll still be able to file your return by October 15, 2024, but you may face penalties and interest on any unpaid taxes.
Can I get an extension beyond October 15th?
While the automatic extension grants you six months to file, you might be able to request an additional extension by filing Form M-4766, Application for Extension of Time to File a Massachusetts Income Tax Return. However, approval for this additional extension is not guaranteed.
Where can I get Form M-4868?
You can download Form M-4868 attached below.