A filing extension is an exemption made to both individual taxpayers and businesses that are unable to file a tax return by the due date. Individuals can complete and file IRS Form 4868 by the regular date of their return, which is usually April 15, for an automatic six-month extension.
An extension gives you extra time to file, but not extra time to pay. After you file an extension, if you owe taxes when you file your return, you might also have to pay penalties and interest on the tax due.