the rights and privelages many taxpayers expect.

An extension gives you six months to file. If you file after 6 months and one day, the IRS considers you 7 months late. The extension is only valid if you actually file before the end of the six months.

An extension doesn't give you extra time to pay your taxes. If you have a balance due, you will pay penalties and/or interest. If you pay on October 14th, after receiving an extension, the IRS will consider your payment 7 months late.

The IRS considers any portion of a calendar month as an entire month when calculating penalties. Therefore, if you have an extension but file on October 20, you are 7 months late: April, May, June, July, Aug, Sept, and Oct.

Fineprint-I am talking of personal tax returns. There are exceptions, for instance last year everyone in California was given until November to file and pay. Consult your tax professional.

MODS, I am talking of the financial impact of filing late taxes. This is not a political discussion, but move it if you feel it is.