I need to file an extension I don’t think I owe but if I do owe and file later what happens?

[aylamadams]

Cannot file in time for deadline so far I do not owe.

[Mike9241]

filing the extension generally prevents imposition of late filing penalty that is 4.5% per month on amount owed for up to 5 months. you are still subject to any late payment penalty which is .5% a month + interest. 

if you don't owe, there are no penalties even if you file late.