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I want to file an extension but don't know whether I will owe taxes or will get a refund. What should I do?

 
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Ashby
New Member

I want to file an extension but don't know whether I will owe taxes or will get a refund. What should I do?

It does not matter, just file the extension and put whatever you want for tax owed or refund. You just need to get the extension filed to avoid failure to file penalties. If you do owe, but file an extension, you are subject to failure to pay penalty of 0.5%/month of tax due per month that it's late. That's much better than 5% for failure to file.

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