I transmitted my return at 9 am on April 16. Is it too late to file for extension to avoid penalty?

[DorieLou]

Only realized this morning that I had not actually transmitted my return with payment in full, so in a panic I did so (too) quickly by 9 am.  As I understand it, I will now have to pay a 0.5% penalty.  Is it too late to file for an extension to avoid that penalty?

[Lisa995]

yes, its too late for a federal extension….get it filed and paid asap.

[DorieLou]

Lisa995: I already DID "file" -- at 9 am on 4/16.  That's what I meant by "transmitted"

[bluedeb · Accepted solution]

An extension has to be filed by April 15, 2019 so it is too late to file an extension.  An extension only extends the time you have to file your return, it does not extend the time you have to pay taxes.  Taxes not paid by April 15, 2019 will incur a penalty & interest until the taxes are paid in full.  Since your are only a day late your penalty & interest would be very little.  The IRS (& State) will send you a letter letting you know how much you owe.

[DorieLou]

This implies penalty may be prorated based on number of days in the month the filing was late (in my case 1 day).  Is that possible?

[bluedeb]

It actually goes by the date your return is accepted.  Yes, the can impose a one day late penalty & interest.