Question

I have a question about tax extension payments. When I request extension of tax payments, what should I count as my tax payments?

Answer

An extension can allow you more time to file, but it does not allow more time to pay taxes due. You must estimate your taxes and subtract what you have already paid. Tax payments are the payments you’ve already made that include:

  • Withholdings from your paychecks
  • Estimated payments you made during the year

To figure your balance due or refund:

  1. Figure your taxes.
  2. Subtract the tax payments you already made.

When you file extension using Form 4868, the IRS expects you to pay the taxes you owe at that time.

Related Topics

Related Resources

Form 1099-G, Certain Government Payments

Most Forms 1099-G are received for unemployment compensation or from state or local income tax refunds. Learn more from the tax experts at H&R Block.

IRS Notice CP59 – Form 1040 Tax Return Not Filed

Learn more about form CP59 and how to handle an IRS CP59 notice with help from the tax experts at H&R Block.

IRS Notice CP2566 – The IRS Still has not Received Your Form 1040 – You Must File a Tax Return

Learn more about form CP2566, why you received it, and how to address past-due tax returns with help from the tax experts at H&R Block.

What To Do About the IRS Negligence Penalty

The IRS negligence penalty is 20% of the amount you underpaid your tax. Learn about your options to address it from the tax experts at H&R Block.