The IRS reminds taxpayers at any income level that while they may file a request for a six-month extension of time to file from the traditional deadline of April 15th, there is no extension on the time for payment. While taxpayers may not incur a penalty or interest for filing late (by October 15th), they are subject to penalties and interest for a late payment. Be sure to check with your tax preparer to estimate a timely payment of tax.
To read more about the IRS’ reminder, click here.
