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Balance Due and Refund Options

For taxpayers who owe additional taxes, they must pay the taxes they owe by the original due date of the tax return otherwise, they are subject to interest and penalties.  Taxpayers may file an extension for their tax return.  Extension of time to file* is not an extension of time to pay.  Taxpayers still have to pay their balance due by the original due date. 


*A taxpayer must request the extension of time to file by the regular due date of the return to avoid the penalty for filing late.  An automatic six-month extension to file will be granted if the taxpayer submits Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.  An extension will give the taxpayer extra time to get his paperwork to the IRS, but it does not extend the time he has to pay any tax due.

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Cathy Fisher

Common Cents Bookkeeping and Tax Preparation

Serving Henderson, NC, Buncombe County, Polk County, Transylvania County

E: cathy@commoncentsqbo.com

P: 828-595-2835

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