No. A tax extension gives you more time to file your return — it does not give you more time to pay.
Any taxes you owe are still due on the original deadline (April 15 for personal returns). If you do not pay by April 15, the IRS will charge interest and a late payment penalty on the unpaid amount — even if your extension is accepted.
The late payment penalty is 0.5% of unpaid taxes per month. Interest is charged on top of that.
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