I have a QLPO (qualified loan plan offset) and received a 1099-R with Box 7 value of 1M.
I intend to rollover that amount to a RolloverIRA before the extended deadline (10/16/2023) but not before the regular deadline (4/15/2023) because of my current financial situation.
My understanding is that even I file an extension or not, my understanding is that I need to pay taxes owed or else I will owe fees/interest or penalties. In this case, will I incur fees/interest/penalty on this QPLO if i pay before extended deadline but after regular deadline?
