When to ask for an extension on your taxes

Sponsored MoneyWatch: Managing Your Money When to ask for an extension on your taxes We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht Updated on: April 9, 2026 / 4:40 PM EDT / CBS News Add CBS News on Google While tax filing extensions are often positioned as a simple fallback, they're not always the right move. Muhammad Aqib/Getty Images The tax filing season is reaching its peak, and for many taxpayers, the pressure to meet this year's April deadline is colliding with incomplete paperwork, shifting income totals and lingering questions about what's actually owed to the Internal Revenue Service (IRS). Even those who planned ahead may find themselves waiting on key tax documents or trying to reconcile unexpected financial changes from the past year, though, impacting their filing timelines.At the same time, the broader financial environment isn't making things any easier. With elevated household debt levels and higher borrowing costs still weighing on people's budgets, coming up with a tax payment — or even accurately calculating one — can feel more complicated than usual this year. If you miss the payment deadline, though, penalties and interest will immediately start to accrue on your unpaid tax debt, so the timing matters more than you may realize.That's where a potential tax extension enters the conversation. But while extensions are often positioned as a simple fallback, they're not always the righ...