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 2019 tax
- 100% of your 2018 tax (Your 2018 return must cover a 12-month period.)
Related Resources
Discover why the tax refund you got is less than expected or different from what was shown when you filed. The tax experts at H&R Block explain further.
Does the early 401k withdrawal penalty apply if it was your only source of income for the year? Learn more and get tax answers at H&R Block.
Find out what you can do if IRS says they have no record of receiving your tax return. The tax experts at H&R Block explain your options.
Received a notice that your business has inadequate records? Read the IRS definition and get more insight from the tax experts at H&R Block.
