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Get your taxes done using TurboTax
Your estimated taxes for the last quarter of 2023 were due January 15, 2024.
If you are filing a late return now, there is nothing you can do before you file to reduce your penalties. However, if Turbotax suggests paying a penalty, see if you can decline the calculation. Just file and pay your taxes. If the IRS sends a penalty assessment letter, you can apply for a one-time abatement/waiver for cause (such as, this was your first year and you didn't know the rules.) It's pretty easy to get a waiver of the penalty if this is your first time. However, you will also owe interest. Interest can't be waived, but the interest on the late tax payment will be recalculated if the penalty portion is removed.
September 25, 2024
9:16 AM