Hi, Eugene1980,
Don't worry too much about how the estimated balance due on your extension was calculated. It was just an estimate and you can move forward with the final return and pay your taxes according to the final tax return balance due or refund. Where the balance due on the estimate will be important is whether or not you paid your actual taxes due on or before the due date. An extension to file is not an extension to pay, and your taxes do need to be paid timely to avoid the "failure to pay penalty."
The failure to pay tax penalty is 0.5% of the tax you owe per month or part of a month, but it also caps at 25% of the tax due. If you set up an IRS installment agreement, the IRS will reduce your failure to pay penalty to 0.25% of the tax you owe while the installment agreement is in effect. This article goes more in-depth. Great job getting that first extension filed!
Hope this helps!
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Regards,
Karen
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