Question

I need to request extension for my tax liability. When I file extension using Form 4868, do I have to pay my entire tax extension balance due in full?

Answer

If you owe taxes and don’t pay the tax due by the tax deadline, you’ll owe interest. If you owe tax, you might also be charged underpayment penalties.

When you eventually file your return, be sure to show any payment you paid with the extension. You’ll receive a refund for any tax you overpaid.

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