No. You will incur penalties and interest on any taxes owed if you do not take care of it by the tax filing deadline for 2016 tax returns--that deadline is April 18, 2017.
If you are unable to pay, you could set up a payment plan with the IRS.
https://www.irs.gov/individuals/online-payment-agreement-application
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**