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No. An extension doesn't delay your payment deadline if you owe money. Instead, an extension allows you to extend filing your forms until October 16. If you haven't paid your estimated balance due by April 18, 2023, you should do so as soon as possible to minimize penalties and interest.

There is no penalty for filing your taxes late if you are due a tax refund. But if you owe taxes, you may be subject to penalties and interest from the IRS.

The late filing penalty is 5% of the unpaid taxes with a minimum penalty of $435, or 100% of the unpaid taxes if less, when the return is filed more than 60 days after April 18 (October 16 if you filed an extension). The penalty increases 5% a month until the taxes are paid or the penalty reaches 25% of the unpaid taxes.

While penalties and interest may depend on your unique situation, generally the IRS charges the following:

• 5% interest on the total amount (includes penalty and interest previously assessed) you owe for every month you file late. The maximum penalty for late payment is 25% of the total amount owed.
• Don't forget: The IRS compounds interest daily and penalty assessment monthly. 
• The late payment penalty is 0.5% each month. The IRS combines the late filing and late penalty payments each month you are subject to both. The maximum penalty per month is 4.5% late filing plus 0.5% late payment for a total of 5% per month. Generally the maximum penalty is 25%.
• The IRS will assess penalties and interest on the outstanding taxes until they are paid in full. 

After filing an extension, your taxes must be filed by October 16, 2023 (October 15 is a Sunday).