Question

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?

Answer

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.)

 

Related Topics

Related Resources

IRS Notice CP504 – Intent to Levy State Tax Refund or Other Property

Learn more about IRS notice CP504, why you received it, and how to handle an IRS bill for unpaid taxes with help from the tax experts at H&R Block.

IRS Notice CP508C – Notice of Certification of Your Seriously Delinquent Federal Tax Debt to the State Department

Learn more about notice CP508C, why you received it, and how to handle an IRS CP508C notice with help from the tax experts at H&R Block.

IRS Notice CP11 – Changes to Form 1040 & Amount Due

Did you receive an CP11 IRS Notice? Learn what this message means and what you may need to do. Get tax answers from H&R Block.

IRS Letter 4046 – Acknowledge Receipt of Appeals Request

Learn more about letter 4046, why you received it, and how to handle an IRS 4046 letter with help from the tax experts at H&R Block.