If you owe money, file your return on time. Or at least file an extension reporting that you owe money.
There will be an interest charge for paying late if you don't pay by April 15.
However, the penalties change dramatically. If you file on time but pay late, the penalty is 1/2 of 1% per month. If you file and pay late, the penalty is 5% per month. You can save 4.5 % per month in penalties by filing on time or by filing an extension reporting that you owe money.
There will be an interest charge for paying late if you don't pay by April 15.
However, the penalties change dramatically. If you file on time but pay late, the penalty is 1/2 of 1% per month. If you file and pay late, the penalty is 5% per month. You can save 4.5 % per month in penalties by filing on time or by filing an extension reporting that you owe money.
