File Your Returns As Tax Extension Deadline for 2022 Ending Soon

A record number of Americans filed a tax extension this year

Oct. 17 is the final date for submitting tax details for 2022

Extension was given only to file the tax returns

But, taxes were still to be payed by Tax Day, which was April 18.

Getting a tax extension provides more time to file your tax return

But it does not provide more time to pay your taxes.

The failure-to-pay fee is equal to 0.5% of the tax owed after the due date for each month, or part of a month, that the tax remains unpaid.

Also, interest will be charged on any unpaid amounts

If you haven’t filed your return for the 2021 tax year and didn’t request an extension, you’ll be hit with a failure-to-file penalty.