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 2020 tax
- 100% of your 2019 tax (Your 2019 return must cover a 12-month period.)
Related Resources
Learn more about letter 539, why you received it, and how to handle an IRS 539 letter with help from the tax experts at H&R Block.
The IRS will be sending your refund check by mail because it could not be direct deposited. Learn more about IRS notice CP53B from the experts at H&R Block.
Learn more about notice LT26, why you received it, and how to handle an IRS LT26 notice with help from the tax experts at H&R Block.
Liens and levies are tools the IRS uses to collect back taxes. Learn more about each one -- and how to avoid tax liens and levies by working with the IRS.