Asked by justin woessner on May 22, 2024
Verified
An extension to file a tax return is an extension of time to file and an extension of time to pay.
Extension to File
An allowance by the IRS granting taxpayers additional time to file their income tax returns, beyond the April 15 deadline, without penalty for late filing.
Extension of Time
An allowance by the IRS giving taxpayers extra time to file their tax returns beyond the original due date.
- Understand the limitations and advantages associated with extensions for filing tax returns and the deadlines for tax payments.
Verified Answer
MO
michala ONeillMay 27, 2024
Final Answer :
False
Explanation :
An extension to file a tax return grants additional time to file the return but does not extend the time to pay any taxes owed. Taxes owed are still due by the original deadline.
Learning Objectives
- Understand the limitations and advantages associated with extensions for filing tax returns and the deadlines for tax payments.
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