Arkansas Tax Extension: Complete 2024 Guide
Your Takeaways:
- Extension Length: 6 months for personal and corporate returns
- New Deadline: October 15th, 2025 (for calendar year filers)
- Payment Requirement: Pay your total tax liability by the original due date (April 15th, 2026)
- Form Required: AR1055-IT (if federal extension not filed)
Are you an Arkansas taxpayer needing more time to file your state tax return?
You're in the right place.
This comprehensive guide covers everything you need to know about filing an Arkansas tax extension in 2024, from deadlines to step-by-step instructions.
What is an Arkansas Tax Extension?
An Arkansas tax extension gives you additional time to file your state income tax return.
However, it's crucial to understand that this is an extension to file, not to pay.
You must still pay any taxes owed by the original due date to avoid penalties and interest.
Key Deadlines for Arkansas Tax Extensions
- April 15th, 2026: Deadline to file for an extension and pay taxes owed
- October 15th, 2025: Extended deadline to file your complete tax return
How to File an Arkansas Tax Extension: Step-by-Step Guide
Step 1: Determine if You Need to File Form AR1055-IT
Arkansas will automatically grant you a state extension if you've filed a federal tax extension using IRS Form 4868 (for individuals) or Form 7004 (for corporations).
However, you must still pay your tax liability by April 15th, 2026.
Step 2: File Form AR1055-IT (if necessary)
If you haven't filed a federal extension, you must submit Form AR1055-IT. You have two options:
Option A: File Online
- Visit the Arkansas Department of Finance and Administration (DFA) website
- Navigate to the online filing section
- Complete and submit Form AR1055-IT electronically
Option B: File by Mail
- Download Form AR1055-IT from the DFA website
- Fill out the form completely
- Mail it to:
- Individual Income Tax Section
- P.O. Box 8149
- Little Rock, AR 72203-8149
Step 3: Pay Your Estimated Taxes
Remember, you must pay your estimated tax liability by April 15th, 2026 to avoid interest and penalties.
Payment Options:
1. Online Payment:
- Visit the Arkansas Taxpayer Access Point
- Use a credit card, e-check, or direct debit
2. Mail Payment:
- Make check or money order payable to "Department of Finance and Administration."
- Include payment with Form AR1055-IT if mailing
Example: If your total Arkansas tax liability is $10,000, you must pay $10,000 by April 15th, 2026, to avoid penalties.
Step 4: Keep Proof of Submission
Always keep copies of your completed form and payment confirmation. These documents are proof of submission and payment in case of discrepancies.
Step 5: File Your Complete Return by the Extended Deadline
Once your extension is approved, you must file your complete tax return by October 15th, 2025, to avoid late filing penalties.
Frequently Asked Questions
Q: When I file an extension, do I have to pay my Arkansas taxes?
A: Yes, you must pay your tax liability by April 15th, 2026, even if you file an extension. The extension only applies to the filing deadline, not the payment deadline.
Q: Who is eligible for an Arkansas tax extension?
A: Anyone who needs more time to file can request an Arkansas tax extension and pay their taxes by the original due date.
Q: What are the penalties for filing late in Arkansas?
A: The penalty for filing late is 5% per month (or part of a month), up to 35% of the total tax due.
Q: What are the penalties for paying late in Arkansas?
A: The penalty for late payment is 1% per month on any unpaid balance. Interest is also charged at 10% per year on unpaid balances. The penalties for failure to pay and failure to file cannot exceed 35%.
Q: Should I file an Arkansas tax extension?
A: You should file an extension if you need more time to gather your documents and prepare your return. Filing an extension will help you avoid submitting incomplete or incorrect returns and incurring penalties.
Arkansas Revenue and Expenditures: Where Your Tax Dollars Go
Understanding how your tax dollars are used can provide context for the importance of timely filing and payment. Here's a brief overview of Arkansas's revenue sources and expenditures for the 2023 fiscal year:
Revenue Sources (2023)
In 2023, Arkansas generated over $25.2 billion in revenue. A significant portion of that came from intergovernmental funding (money from federal sources), contributing a whopping $12.5 billion—almost half of the total revenue. Consumer sales taxes, which brought in $4.56 billion, and personal and corporate income taxes, which accounted for $3.93 billion, followed closely.
What’s interesting to note is that personal and corporate income taxes decreased by over 12% from 2022. This change was primarily due to tax cuts introduced in 2023, which provided some relief to Arkansas residents and businesses. However, the state's ability to maintain other revenue streams—such as the steady increase in sales tax—shows that economic activity is still strong.
Major Expenditures (2023)
On the other hand, Arkansas spent over $22.8 billion in 2023, supporting everything from healthcare to education. The largest chunk of the budget went to Health and Human Services, which received $12.4 billion, up from the previous year. This increase reflects the growing demand for services like Medicaid, which supports many Arkansans.
Education remains a top priority, with $4.6 billion allocated for public schools and higher education. However, this is a slight decrease compared to 2022. Meanwhile, spending on law enforcement and public safety increased by nearly 5%, reflecting the state's efforts to keep Arkansas safe.
Why This Matters for You
When you file for a tax extension, it's important to understand that your taxes are vital to funding the state's services. While extensions give you more time to pay, they don't change the obligation to contribute to the programs that keep Arkansas running—like schools, healthcare, and transportation infrastructure.
With tax cuts in place and spending carefully balanced, the state manages its resources to support immediate needs and long-term projects. Whether filing on time or extending, your contribution helps maintain these critical services for all Arkansans.
Conclusion
Filing an Arkansas tax extension can give you the extra time to prepare your taxes accurately. Remember these key points:
1. File your extension request by April 15th, 2026
2. Pay your estimated tax liability by April 15th, 2026
3. Complete your tax return by October 15th, 2025
By understanding the process and meeting these deadlines, you can avoid penalties and contribute your fair share to Arkansas's public services and infrastructure. Contact e.file-tax today to learn more about tax extensions.
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