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Extension payment to avoid penalty
I am filing for extension 2020 tax. I have tax due of $3100. Total taxes is $21,636 & withholding is $18,829. I want to file for extension.
How much do I need to pay with my extension to avoid penalties. is there an online calculator I can use? I read, that I much pay 90% of my tax liability? Does this mean if Taxes on 1040 < 90% of withholding, then must payment
based on my calc, I must pay $900, to get my total taxes paid to 91% (withholding + $900 / total taxes)
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March 5, 2021
8:10 AM