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
Due to the recently passed Tax Cuts and Jobs Act, you may notice a few changes to your Form W-4. Read on to learn what to look for and how these changes will affect your income in the H&R Block Tax Information Center.
Learn more about late filing and payment penalties from the tax experts at H&R Block.
You may qualify for the earned income tax credit. Learn more about notice CP09 and how to handle the notice with help from the tax experts at H&R Block.
Form 1099-MISC can be confusing because it can report various types of income. Learn how to read the 1099-MISC boxes with the experts at H&R Block.
