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New Member
posted Jun 4, 2019 9:30:44 PM

Is there any penalty or requirements to apply for an extension?

Does an extension increase the chance of an audit?

Any costs for the extension?

When do I need to apply by?

0 3 1078
3 Replies
Expert Alumni
Jun 4, 2019 9:30:45 PM

Please read the TurboTax FAQ for information on "How do I file an IRS extension (Form 4868) in TurboTax Online?": How do I file an IRS extension (Form 4868) in TurboTax Online?

For more information - "How Do I Get An Extension on Taxes?": https://turbotax.intuit.com/tax-tips/tax-extensions/how-do-i-get-an-extension-on-taxes/L5ThSke8R

New Member
Jun 4, 2019 9:30:46 PM

So I still need to pay the taxes owe even if I have an extension? What if my tax return is still incomplete after the deadline? My taxes owe would be incorrect if I had to pay before the April deadline.

Level 15
Jun 4, 2019 9:30:48 PM

Pay your best estimate of the tax that you owe with the extension. You'll settle up for any difference when you file your tax return. If you end up owing a significant additional amount you might be charged a penalty for late payment. The only alternative is to pay the maximum that you could possibly owe with the extension, and plan on getting a refund when you file the tax return.