r/personalfinance•
kz01

Estimated tax payments after filing on late deadline

Taxes

So I recent filed my taxes with TurboTax on the Oct late deadline after getting an extension. After filing I recieved instructions for estimated tax payments starting 2023 Q1. At this point I'm already 3 quarters behind on the payments. What should I do? Would I be penalized even though I just got the payment instructions?

From what I understand the estimated payments are based on my 2022. If im expecting lower AGI in 2023, is the estimated payments still necessary or can try to recalculate a lower amount?

Posted Nov 2, 2023, 1:25 AM UTC

16
Loading comments…