I can’t pay estimated taxes by the estimated taxes deadline of Jan. 15. Is it possible to postpone or extend the deadline without being subject to penalties and interest payments — what are my options?
You can postpone the quarterly Jan. 15 estimated tax payment until Feb. 1, 20CY if you file your return and make any necessary payments by that date. If you can’t make an estimated payment, you might be subject to a penalty with interest.
You might owe a penalty if the total of withholding and estimated tax payments you made didn’t equal at least the smaller of:
- 90% of your 2017 tax
- 100% of your 2016 tax (Your 2016 return must cover a 12-month period.)
Related Resources
Learn more about notice CP259, why you received it, and how to handle an IRS CP259 notice with help from the tax experts at H&R Block.
Is rental property depreciation effected by AMT rates? Explore your options and learn more. Get tax answers from H&R Block.
If you sold stock, bonds or other securities through a broker or had a barter exchange transaction, you will likely receive a Form 1099-B. Learn more from H&R Block.
The IRS grants four types of penalty relief, but many taxpayers don't ever ask. Learn how to request penalty abatement from the IRS.