If you are due a refund, you do not need to file an extension you have three years from the filing deadline to file the return and claim your refund. Do I need to file an extension if I don't owe? Additionally, the IRS begins assessing interest on unpaid taxes on top of penalties. The extension does not provide you with more time to pay the amount owed- only more time (6 months) to complete your return and file. However, you may still face failure to pay penalties if your tax due is not paid by the April deadline. The extension will prevent you from owing penalties for failure to file if filed in the 6-month window. Will filing an extension prevent me from being penalized? Filing an application for extension of time does not allow additional time to pay any tax due. How much time does the extension allow?įorm 4868, Application for Extension, is used to apply for an additional 6 months to file your tax return. If you expect to have an amount due for your Federal return, and cannot meet the mid-April deadline, an extension is necessary to avoid a penalty for late filing.
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