Cindy4
Employee Tax Expert

Get your taxes done using TurboTax

You can file as normal, but if you expect to have a balance due you will want to pay that as soon as possible to curtail any penalties and interest.  You can pay here Pay Estimated Taxes .  Indicate that the payment is for form 1040 for tax year 2023.

 

The extension is an extension of time to file, not time to pay.  This is confusing, but basically the IRS considers the tax system a "pay as you go" system.  If you end up owing more than $1,000, they will assess penalties and interest from April 15th forward.

 

May not be good news, but hope it helps!

Cindy

 

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