Is there a penalty from the IRS for late filing an extension? 122 views | Last modified 3/6/2020 4:03:13 AM EST
There is no penalty from the IRS for filing for a tax extension for your personal, business or exempt organizations income tax returns. But if you fail to pay any tax amounts due, or fail to provide the correct amount, there could be penalties and interest assessed by the IRS. A tax extension grants you additional time to file your returns; however, it does not allow you extra time to pay any tax amounts due.