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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 53698
Experience:  29 years of experience as a tax, real estate, and business attorney.
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If I may owe taxes do I need to pay them today with an estimated

Customer Question

If I may owe taxes do I need to pay them today with an estimated filing when I am seeking an extension? My tax advisor said it was up to me with no guidance.
Submitted: 6 months ago.
Category: Tax
Expert:  Richard replied 6 months ago.
Good evening Ann. My name is ***** ***** I look forward to helping you. You do not have to pay the estimated taxes owed when filing your extension. The purpose of an extension is to extend the time for filing your income tax return so that you don't get a late-filing penalty. The extension is automatic whether or not you pay the estimated taxes. The only adverse impact is that the IRS will assess interest and a late payment penalty for not paying your taxes timely. You can verify this at the following IRS link: Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!