Two-Step process of filing taxes

The Internal Revenue Service has announced that beginning with 2005 tax returns filed in 2006, taxpayers filing for extensions will receive an automatic 6 month extension to October 15 without providing the reason for requiring the extension. As per the previous regulations, the extension applies to the return but not the tax. So you will have to pay off your taxes by April 15.

It must also be noted that the two-step process of filing for a 4 month extension followed by a separate filing for an additional 2 month extension has been substituted by a simple, automatic grant of 6 additional months to file returns.