My partner and I ended up with a rather large tax bill (for us anyway) of approximately $18k.
The way I was understanding the IRS website was that even if you file for an extension, that doesn’t extend when your amount is due. You need to pay by the deadline to avoid late fees and penalties.
Red_Queen592 t1_je8ap30 wrote
Reply to My husband and I owe 22k in taxes but we only made a combine total of 75k by one-eye-owl
My partner and I ended up with a rather large tax bill (for us anyway) of approximately $18k.
The way I was understanding the IRS website was that even if you file for an extension, that doesn’t extend when your amount is due. You need to pay by the deadline to avoid late fees and penalties.
https://www.irs.gov/forms-pubs/extension-of-time-to-file-your-tax-return