It's important to file on time or get an extension so you don't get hit with a late filing and/or a late payment fee. So if you don't pay your estimated tax due by May 17, the IRS will charge you interest on the unpaid balance. Will there be a fourth stimulus check?: Americans are looking for clues When will child tax credit payments start?: Checks set to roll out in July, IRS says That means your payment is still due at the tax filing deadline. Filing an extension when you owe taxes only gives you more time to file, not more time to pay. This could give you more time to review your return to ensure that you're taking advantage of all the tax benefits available to you.Īlthough it may sound tempting, there are a few things to keep in mind. Regardless of the issue, you can still get an extension to file until Oct. Maybe you lost tax documents, experienced a family emergency or just procrastinated. The IRS doesn't care what your reason is. If you haven't filed yet and are feeling pressed for time, don’t panic. The May 17 tax deadline is just around the corner.
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