IRS Still Charges Interest, Penalties on Extended Tax Returns

Think a tax extension buys you more time to pay? The IRS has some bad news for you

The IRS continues to charge interest and penalties on taxes owed even when a taxpayer files an extension for their income tax return. Filing an extension does not stop the accrual of interest and penalties on unpaid tax balances. Taxpayers who file extensions still remain responsible for paying any taxes they owe by the original deadline to avoid additional charges.