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2 Answers
- 1 decade agoFavorite Answer
If you are getting a refund you have 3 years to file before your refund becomes government property. For example if you did not file your 2003 and were getting a refund, if you do not file by the 17th, then your refund no longer will be available to you.
If however you owe money, then you need to send the IRS moeny by the 17th, otherwise you will owe penalties and interest.
And unfortunately filing an extension is only an extension to file your return, not pay your taxes. If you owe, then your penalties and interest will continue to accumulate.
Source(s): 12 years tax pro - doris_38133Lv 51 decade ago
If you owe and don't pay with your extension, penalties and interest will follow you. If you are getting a return, nothing will happen. You have several years to file.
