If you decide to file a tax extension, there are a few requirements you should keep in mind. You will still have to owe the full amount of your taxes. You will also be responsible for paying any interest fees or service fees accrued on your taxes. Something else you should keep in mind is that you will be required to set up electronic withdrawal for your tax extension. The IRS will have to automatically receive whatever taxes it is owed from one of your bank accounts. You can do this by visiting the IRS website or calling the IRS help line.