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June 22, 2022

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You filed an income tax extension. Now what?

If you didn’t file your taxes by the April 18 deadline this year, hopefully, you’ve requested an extension. An extension can give you extra time – up to six months – to file your return. It’s worth noting that for 2022, a six-month extension would push back your filing deadline to October 17 – since October 15 falls on a Saturday this year.

Rules surrounding the extension

A filing extension only gives you more time to file – it doesn’t give you any extra time to pay your taxes. If you owe money to the IRS this year, that’s still due on Tax Day. If you don’t pay your taxes on time, you’ll be charged monthly penalties and daily interest on the amount you owe. This means that even if you can’t pay the full amount you owe right now, it’s still worth it to pay as much as you can immediately.

Next steps

Once you’ve requested an extension, you’ll want to make sure the extension was approved. Call the IRS to verify that your request was received and approved. Currently, there is no way to check this information on the IRS website.

Most extensions are approved, but sometimes clerical errors prevent your application from being accepted. If your application is rejected, double-check that there are no misspellings, inverted numbers, or outdated information. You’ll have five days to revise and resubmit your application.

Additional support

If you have further questions about how to file an extension, or you simply need advice about how to minimize your penalties if you can’t pay your taxes immediately, an experienced tax attorney can help you come up with an effective solution for your situation.

IRS Tax Collection