Filed a tax extension?

The due date to file 2022 tax returns or to file an extension is April 18, 2023. Unless you live in Maine or Massachusetts where the deadline to file or extend your time to file is April 19, 2023.

No. An extension doesn't delay your payment deadline if you owe money to the IRS. An extension only allows you more time to finish filing your tax return. If you haven't paid your estimated tax balance due by April 18, you should do so as soon as possible to minimize penalties and interest.

No. If you are unable to pay your taxes in full, you can set up an Installment Agreement payment plan with the IRS. This allows you to take up to 72 months to pay your taxes in full. Our expert Tax Pros can help you set up a payment plan with the IRS.

While penalties and interest may depend on your unique situation, generally the IRS charges the following:

• 5% interest for every month
• Maximum penalty for late payment is 25% of the total amount owed
• Don't forget: The IRS compounds interest daily and penalty assessment monthly

The IRS combines the late filing and late penalty payments each month you are subject to both. The maximum penalty per month is 4.5% late filing plus .5% late payment for a total of 5% per month. Generally, the maximum penalty is 25%.

The IRS will assess penalties and interest on the outstanding taxes until they are paid in full. Consider an IRS Installment Agreement for payment if you owe and can't pay all of your taxes at once.