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car110
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Quarterly payments

Do I have to pay the quarterly payment that was due April 15 2025 also or just the penalty

 

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Quarterly payments

What penalty?  The quarterly 1040-ES payments are estimated payments for next year.  They are optional to pay.  You do need to pay the 2024 tax due (on a 1040-V voucher) on your 1040 line 37 by April 15 or you will be late.  If there is a penalty on 1040 line 38 it is included in the Tax Due on line 37.  

 

Did you file yet?    If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.


How to add form 2210 for Underpayment Penalty
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703

 

It's under

Federal tab or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

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