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Extending filing taxes

712 Views | 3 Replies | Last: 6 yr ago by PrestigeWorldwideAg12
aggiefan2002
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For various reasons I am considering extending my tax return this year for the first time. I have 3 questions about this:

1) Does this push it to July or October?

2) I estimate I will owe 6-7k. Does extending increase this for any reason?

3) Am I more likely to get audited if I file an extension?

Thanks for the help.
aggiehunter3
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AG
1. October
2. Extending gives you an extension on time to file but not paying, so you would need to pay in 4/15 or would face penalty and interest
3. No IMO
aggiefan2002
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Thanks. How do you know how much to pay if you haven't filed?
Diggity
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AG
You send what your estimated tax liability would be for the year. Whatever you're short will have interest tacked on it.
PrestigeWorldwideAg12
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aggiefan2002 said:

Thanks. How do you know how much to pay if you haven't filed?
you pay the estimated sum; come October if you over paid you will get your return and if you under paid they will then get with you on that (not sure if there is interest if you paid the full estimated amount)
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