Taxpayers Urged to Pay Estimated Taxes by April 15 Despite Filing Extensions

Filing an extension grants extra time to submit tax returns but does not delay the payment deadline, with penalties and interest applying to late payments.

Filing for a tax extension provides an additional six months to submit returns but does not extend the April 15 payment deadline for taxes owed.
Taxpayers who miss the payment deadline face penalties of 0.5% per month and interest charges, currently at approximately 7% annually.
The IRS recommends using last year’s tax return as a baseline to estimate taxes owed when filing an extension.
Extensions can be filed electronically or by mail using IRS Form 4868, with electronic filing strongly encouraged due to processing delays with mailed forms.
Automatic extensions are available for certain groups, such as U.S. citizens living abroad or military personnel in combat zones, but interest on unpaid taxes still accrues.