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Level 1
June 3, 2019
Question

If I paid estimated taxes late, but didn't actually owe any extra tax will I be penalized?

  • June 3, 2019
  • 1 reply
  • 8 views

I just paid June and September's estimated tax payments, I then found out yesterday that the amount I will have paid in estimated for the year is 100% overpayment and not actually owed. Will I get penalized for paying them late even though I didn't actually owe them.

    1 reply

    Level 7
    June 3, 2019

    No, you will not be penalized if the estimated payments turn out to be overpayments. You may want to review the following for further information: Estimated Taxes - How to Determine What to Pay and When.