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Does an extension give me more time to pay my taxes?

The federal tax file deadline for tax year 2019 has been extended to July 15, 2020, due to Coronavirus (COVID-19). Go here for more information about how taxes have been affected.

Although an extension gives you until October 15, 2020 to file your return, you'll still have to pay your taxes by July 15, 2020 (if you're out of the country, you also have until July 15, 2020 to pay your taxes).

Even if you can't pay your taxes by the deadline, go ahead and file an extension anyway. Doing so will protect you from the late-filing penalty, which can be up to 10 times higher than the penalty for not paying your taxes on time.

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