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I am filing for an extension because I don't know what I owe. How can the Taxes still be due by April 15th if I am filing for an extension and don't know what I owe?

 
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1 Reply
pk
Level 15
Level 15

I am filing for an extension because I don't know what I owe. How can the Taxes still be due by April 15th if I am filing for an extension and don't know what I owe?

Once you prepare your return using TurboTax, you have a rough idea  , if you owe anything. IRS recognizes the 15th of April as the settlement date for amounts owed. The extension is only for filing not for paying. If you owe when you finally file, you will be charged interest from the 15th of April.

You can make an estimated payment ( check  or direct debit ) along with the  filing of the request for extension.

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