2006-12-23 05:38:11 · 4 answers · asked by keithemartin 1 in Business & Finance ➔ Taxes ➔ United States
No, the penalty was assessed on April 15.
An extension does NOT give you an extended time to pay. Your tax bill has been accruing interest & fines everyday since then.
Get them filed and get them paid. The IRS will gladly send you a bill for the unpaid penalties and interest.
Sorry.
2006-12-23 06:58:26 · answer #1 · answered by Gem 7 · 0⤊ 0⤋
If you file by the time your extension ends, you won't pay a penalty for late filing. But since the extension only is for filing, not for paying, you'll be charged interest back to the original due date of the return until you actually pay. If what you paid in was less than 90% of what was due, and you don't meet any of the exceptions, you'll probably have to pay an underpayment penalty.
2006-12-23 13:54:55 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Yes. Penalties have been running from April 17th on unpaid tax and from October 16th on unfiled returns. Interest accrues from the due date of payment, which may be much earlier.
2006-12-23 13:51:17 · answer #3 · answered by skip 6 · 0⤊ 0⤋
uhhhh yeah.
2006-12-23 13:39:51 · answer #4 · answered by boilerrat 7 · 0⤊ 0⤋