Will I have to pay taxes a second time when I file with an extension? Didn't I already pay?

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MintchipLover
MintchipLover Member Posts: 6 Level 3

I already paid what I thought I owed when I filed the extension in April. I don't want to have to pay them that amount a second time when I'm filing now in October. This was my first year filing an extension. Can someone tell me what to expect? Thank you.

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  • Henry
    Henry FreeTaxUSA Agent Posts: 86
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    Hi MintchipLover!

    It's good that you submitted a payment back in April when you filed your extension because an extension only gives you more time to file your tax return; it doesn't extend the amount of time you have to pay your taxes. You are on the right track!

    Now that you are filing your tax return, you can account for that extension payment on your return. To do this in our software, select Misc --> Payments --> Extension and Other Payments from the menu bar. Enter the amount you paid and save the changes. Then your extension payment will be applied towards your tax balance, and you will see the calculations change on your tax return.

    If you find that you overpaid when you filed your extension, then you will be able to claim a refund of any excess payment amount. On the other hand, if you underpaid, then you will need to pay the remaining balance due -- just be aware that penalties and interest may also apply. In that case, the IRS will generally contact you by mail after they process your tax return.