If I file a tax extension (Form 4868), do I still have to pay by April 15?

Yes. A tax extension only extends your deadline to file, not your deadline to pay. This is the most common misunderstanding about extensions.

What Form 4868 does:

• Gives you an automatic 6-month extension to file your return (from April 15 to October 15, 2026)
• No reason or explanation needed. The IRS grants it automatically.
• You can file electronically through most tax software, or mail the paper form

What Form 4868 does NOT do:

• It does not extend your payment deadline. Any tax you owe is still due April 15.
• If you don't pay at least 90% of what you owe by April 15, you'll face the 0.5% per month failure-to-pay penalty plus interest

How to estimate your payment:

When you file Form 4868, you need to estimate your total tax liability for the year. You can make a payment with the extension using IRS Direct Pay, EFTPS, or a credit/debit card. Even a partial payment reduces the penalties and interest you'll owe later.

When an extension makes sense:

• You're waiting on a K-1 from a partnership or S-corp
• You need time to gather documentation for a complex return
• You had a major life event (sale of property, stock options, inheritance) and need professional help
• You're dealing with multi-state filing

If you can't pay anything:

File the extension anyway. When you eventually file your return, include a request for an installment agreement (Form 9465) or apply online. The IRS generally approves payment plans for balances under $50,000. You'll still owe interest and the failure-to-pay penalty, but you'll avoid the much steeper failure-to-file penalty.

About 19 million Americans file extensions every year. There's no stigma, and the IRS doesn't audit extension filers at a higher rate.