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
Do you own a small business? Learn more about the qualified business income deduction, the latest tax reform for pass-through entities.
Expats are subject to recent changes under the Tax Cuts and Jobs Act much like any other taxpayer. Read on to learn more about how to prepare in the Tax Information Center.
Learn more about the latest updates for 2018 tax withholding with H&R Block. Find out how your paycheck may be impacted by the new 2018 withholding tables.
Learn more about letter 525, why you received it, and how to handle an IRS audit with help from the tax experts at H&R Block.
