Tax payments due April 15, even with extension

cbsnews.com

Filing a tax extension allows extra time to submit your return but does not extend the payment deadline. Taxes owed must still be paid by April 15 to avoid penalties and interest. Taxpayers should estimate their tax liability based on previous returns or consult professionals. Unpaid balances incur interest and a monthly penalty until fully paid. If unable to pay, options include IRS installment agreements or an Offer in Compromise for those facing financial hardship. Seeking help from tax relief services may also be beneficial for complex situations.


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