Katie-P
Employee Tax Expert

Get your taxes done using TurboTax

Hi @Eugene1980,

 

Thanks for your question! 

 

I'd like to explain a few different things.

 

  1. When taxpayers file for an extension, it is not an extension of time to pay; it is just an extension of time to file. If you used TurboTax to file your extension, the program would have asked you if you wanted to make a payment. You would then have had to estimate how much taxes you were likely to have owed, and you'd have been given the option to pay using TurboTax.
  2. It's possible that you are talking about estimated taxes though, not the amount due on an income tax return. Estimated taxes are paid by some taxpayers each quarter. They do this so that they will avoid underpayment penalties levied by the IRS. Most often, self-employed taxpayers are the ones who pay quarterly estimated tax payments. They do this because they don't have federal tax withholdings from regular paychecks. If you saw messaging in TurboTax about quarterly estimated taxes, it may mean that TurboTax considered your 2022 or 2023 taxes and assumed you will owe taxes when you file your 2024 tax return. Since I cannot see what you have entered in your 2023 return, it's hard for me to say. But you're not going to run into any issues with this when you file your 2023 return. You'll just owe what you owe.
  3. There is a section in the TurboTax interview about estimated taxes. Here's an article about that: Can TurboTax calculate next year's federal estimated taxes? 

I hope this info is helpful. I'll keep eyes on your post today in case you have any follow-up questions. Thanks again!

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