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 2018 tax
- 100% of your 2017 tax (Your 2017 return must cover a 12-month period.)
Requesting your tax transcripts is the best way to research your IRS tax account. You can also authorize your tax pro to communicate with the IRS for you.
Get the facts about IRS authorizations, such as Form 2848, Power of Attorney. Read the IRS definition and get more insight from the experts at H&R Block.
The IRS has named the top IRS scams. Know what they are and how to avoid the most prevalent, like IRS impersonators harassing you by phone, with H&R Block.
Learn more about Letter 1085, why you received it, and how to handle a substitute for return with help from the tax experts at H&R Block.