Tax extension myth busted: Why filing late could cost you more than you think Chief tax officer at Jackson Hewitt Mark Steber explains filing an extension may give you more time to submit paperwork — but the IRS still expects your payment on time, and missing that deadline can trigger costly penalties and interest. NEW You can now listen to Fox News articles! With Tax Day arriving this week, millions of filers are rushing to submit returns—often increasing the chances of simple but costly