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
How do you fix an incorrect W-2 form? Learn more from the tax experts at H&R Block.
When your tax return is under examination, the auditor sends an information document request (IDR) to request information to complete the audit. Learn more from H&R Block.
Can you find AGI on W2 forms? Learn more from the tax experts at H&R Block.
You might file an amended return if you’ve already filed and need to make changes. Learn how to track your amended return from the experts at H&R Block.