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Business & farm
You will need to make the payment for all 3 quarters on or before September 15th. You will be hit with the underpayment penalty for the first 2 quarters. If you can, I would suggest paying the taxes for the 2 quarters as soon as possible. Then make the remaining quarters payments on time.
The underpayment tax penalty is worked out by looking:
- How much you owed
- How long it took before you finally paid
@sfallcreek Thanks for the question!!
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‎August 28, 2024
10:00 AM
4,887 Views