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Technically, if youre expecting to get money back on your taxes, youre not required to file a return or get an extension. After all, the IRS cant charge you penalties if theres nothing owed.
An extension of time to file your return does not grant you any extension of time to pay your taxes. You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties. You must file your extension request no later than the regular due date of your return.
You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic extension of time to file your return. You must request the extension of time to file by the regular due date of your return to avoid the penalty for filing late.
Filing a tax extension is not a bad thing. There is no penalty for filing an extension. However, not paying on time or enough, or failing to file altogether, may cost you. If you dont pay the full amount you owe, the IRS will charge you interest on the unpaid balance until you pay the full amount.
October 16, 2023 - Deadline to file your extended 2022 tax return. If you chose to file an extension request on your tax return, this is the due date for filing your tax return.
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You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic extension of time to file your return. You must request the extension of time to file by the regular due date of your return to avoid the penalty for filing late.
What Is a Filing Extension? A filing extension is an exemption that can be made to either individual taxpayers or businesses that are unable to file a tax return to the federal government by the due date.
Filing a tax extension is not a bad thing. There is no penalty for filing an extension. However, not paying on time or enough, or failing to file altogether, may cost you. If you dont pay the full amount you owe, the IRS will charge you interest on the unpaid balance until you pay the full amount.
Late-payment penalties The IRS will charge you one-half percent each month on the amount of tax you still owe after the deadline. If you fail to file a return altogether by the extension date, the IRS penalty increases to 5 percent per month, for a maximum penalty of 25 percent.
General Guideline #2 SEND in the same amount you paid when you owed LAST YEAR with your last years tax return (paid last year with your Extension for your 1040 Tax Return for the year before).

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