Can I file for an extension even if I don't have an idea of how much if any tax that I owe?

[info11]

I do Laser Engraving as a business.  I am a retired carpenter but sometimes I do small handyman type jobs.  I do get a pension from my years as a carpenter.  I also get Social Security.

[BMcCalpin · Accepted solution]

Yes, you can. You will need to estimate your tax and your withholding to determine if you will owe any tax. Do what you can here.

If you end up getting a refund, then no one will care what you estimated.

If you end up owing tax when you file, then you will owe interest from the original due date (April 18, 2017) to the date you file.

There is a penalty for not filing on time, so filing an extension is a smart thing if you simply can't make it by April 18th.

However, there is interest and possible penalties for not paying on time, so do the return as soon as you can, in case you owe money.