What if I don't pay my taxes before the deadline? 59 views | Last modified 3/6/2020 8:36:25 AM EST
A tax extension extends the amount of time to file a tax return and not the amount of time to pay any taxes due. The IRS will still expect the tax payment on the traditional deadline. However, the IRS Penalties for a failure to pay are significantly lower than the penalties for a failure to file. If you are short on cash, it is better to pay what you can & file the Tax extension before the deadline.