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Level 2
posted Sep 25, 2024 11:24:49 AM

extension

I filed an extension that was approved on 03/05/2024 to end on 09/15/2024.  I missed the deadline by approximately 7 days. How much penalty do I need to pay for being late?

0 2 1464
2 Replies
Level 15
Sep 25, 2024 11:28:15 AM

An extension request using IRS Form 4868 allows you to file a 2023 tax return at any time on or before October 15, 2024 without having to pay a failure to file penalty if taxes are owed.  If you have a tax refund the the 2023 tax return can be filed at any time on or before October 15,  2027 with a tax refund without penalty. 

Employee Tax Expert
Sep 25, 2024 11:36:44 AM

Hello, Based on the dates in your question I believe you are talking about a business return 1065 or 1120-s.

 

Since you were late in filing you will have penalties and interest on the penalties.

 

Here is a link with the penalty amounts and also information on how to get them removed or reduced.

 

https://www.irs.gov/payments/information-return-penalties