I paid more than the tax liability for the past tax year 2023. In fact, I got a tax refund. As for 2024, by the time all of the estimated tax payments for 2024 are made, I will have paid more than my 2024 tax liability. I have made quarterly payments for June (late by 5 days) and September (and will do it in November), but missed the 1st quarter completely. And I increased the 2nd quarter payment to make up for the missed 1st quarter. By the time all of the 2024 estimated tax payments are made (June, September, Dec), the tax payments plus the pension withholding will be 122% of my 2023 tax liability. So, I know that I will not incur a penalty for underpayment.
My question is about having missed the 1st quarterly payment deadline completely and having made the 2nd quarterly payment about 5 days later than the deadline, but making it large enough to include the missed 1st quarterly payment, and having made the 3rd and 4th quarterly payments on time. Is there going to be a penalty for missing the 1st payment deadline completely, and having missed the 2nd quarterly payment by 5 days. As I said, the total of all of the payments will be 122% of my 2023 tax liability.
