These kind of extensions are all better than a FILING extension!
For the majority of families and individuals, there is no reason to file an extension. If you are owed a refund, don’t you want to file your return and get your money now? If you owe money, filing an extension does not help you. The extension gives you until October 17 to file your return but the amount you owe to the IRS is due on April 18.
Filing an extension does not extend the time to pay; penalties and interest will start accruing after April 18 on the amount you owe the IRS.
If you are unable to pay your taxes, file a tax return anyway on or before April 18 to avoid the “failure to file” penalty and pay all that you can by the April 18 deadline. Then, you can work directly with the IRS to set up a payment plan. Please note that it is very expensive to owe the IRS and the IRS will charge you a fee to set up a payment plan. The more you are able to pay by April 18, the less you will pay in penalties and interest.
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