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iooc821253
New Member

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

 
5 Replies
NCperson
Level 15

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

@iooc821253 - your post is somewhat unclear. 

 

if you filed for the extension and paid the estimated taxes due by April 17, then you don't have to worry about a penalty for late filing.  I am assuming you are now due a slight refund. 

 

But if you are saying you filed for the extenson this week and paid what you calculated the taxes to be, then the payment is late and subject to late penalites, which the IRS will determine and let you know about at a later date. 

iooc821253
New Member

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

As far as I know, I am not entitled to a refund. I filed for the extension before April 17. I was wondering if I should be fine until they send me something or if there is a way to resolve the matter now. From what I gather, I should be fine until I receive something? Thank you.

NCperson
Level 15

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

@iooc821253 correct - I would do nothing at this time ; if the amount you owed when you finally filed was minimual then any late fee will be minimal as well

fanfare
Level 15

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

the correct action is to pay the amount you owe now, even if you are going to file in October.

You can pay online at the IRS website.

This will minimize your late payment penalty and interest.

@iooc821253 

fanfare
Level 15

Hello, I filed for an extension and submitted my taxes this week. I paid what I calculated my taxes to be, but do I need to worry if I owe any late penalties?

"As far as I know, I am not entitled to a refund. "

 

 This confused me.

If you filed already you must know the "amount you owe".

@iooc821253 

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