Is there a penalty if I fail to file the extension form by the due date?

There is no penalty from the IRS for not filing a tax extension form. However, if you need more time to prepare your federal tax return, you must file an extension no later than the regular due date of your return.

Filing an extension gives you more time to file your return but does not extend the time to pay your taxes. You must estimate and pay any owed taxes by the regular deadline to avoid possible penalties.

If you don’t file the extension by the due date, you must file your federal tax return by the regular due date, or a penalty may be charged unless you can show reasonable cause for the delay.