Does filing an extension for State income taxes give you more time to pay taxes due?
We owe around $2,000 in state income taxes (Idaho) and cannot pay it by April 15 however we will be able to pay it in the next few months. Will filing an extension give us more time to pay or should we file on time and owe the balance?
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- No, state or federal extensions give you extra time to file, not to pay. File on time, and owe the balance.
- Im in the pursuit of a better answer to this question myself so far i have found out that u can file for an automatic extension to file taxes which is oct 15th but any amount u owe is still due april 15th. This doesnt make any sense to me but thats what all the sites ive been to say! Hope it helps!
- First, a federal extension does not automatically extend the deadline for your state income tax return. Also, an extension to file your federal taxes does not give you an extension to pay your actual tax bill. You still have to figure out your taxes and make an estimated payment. You will pay a penalty if you underpay your taxes by more than 10 percent.
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