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[Music] take our lead lets help you make your mark our goal is your satisfaction let us show you the way but filing an extension when you owe taxes only gives you more time to file not more time to pay that means your payment is still due at the tax filing deadline to file an extension submit irs form 4868 electronically by the deadline point one day ago [Music] make your mark take our lead wwlp monday may 17 is the final day to file your taxes and pay the internal revenue service whats owed to them the due date was originally april 15th but was extended until may 17 due to the covet 19 pandemic point one day ago make your mark take our lead [Music] the penalty for missing the initial filing due date or the extended deadline is 5 of the balance due for each month or part of a month up to a maximum of 25 percent the irs does not assess penalties for both failure to file and failure to pay for the same period she says thank you for watching please subscribe and hit the bell notificati