late payment of 2019 taxes with extension to 10/15/20 filed

I seem to have conflicting information. I have filed for an extension on my 2019 federal income taxes until 10/15/20. One response indicated that I would have to pay a 5% penalty for late filing plus .5% interest no matter if I paid them July 16 or July 31. I plan on being able to pay them on July 22, 2020. The following is a cut and paste from Turbo Tax help.

  • Interest (compounded daily) starts accumulating on unpaid taxes one day after the due date of the return, until the bill is fully paid off. The current interest rate is 5% (3% on top of the federal short-term rate of 2%) and is subject to change.

Example: Let's say you didn't file your return by the July 15 deadline and you owe the IRS an additional $1,000.

Scenario 1: You file an extension on or before July 15 and pay your $1,000 bill on July 25 (10 days late). Your penalty would be $5 (the 0.5% late-payment penalty applied to $1,000), plus another dollar or so for the interest.

I will appreciate anyone's help in reconciling these differences.