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Business & farm
yes you can, but you run the risk of estimated tax penalties. if your business is seasonal so that most of your income will be received later in the year, you can pay lower estimates at first and increase them if income picks up. by the way, the first estimate was due 4/15/2021,
the next is due 6/15, then 9/15, the 1/18/2022
when you are doing the 2021 return, you may be able to use the annualized income method (form 2210) to minimize or eliminate any penalties.
May 8, 2021
12:31 AM