4th Quarter Estimated Tax Payments

[Anonymous]

Do I need to make 4th Quarter payment if I won't owe more than already paid?  From what I understand, I wouldn't need to make 4th payment if I file by February 1 - but, that's not going to happen due to waiting for 1099's and other forms that typically arrive later. 

[DoninGA]

The 4th quarter 2023 estimated tax payment is not necessary if your tax payments to date will equal your total tax liability on the 2023 tax return.

[Anonymous]

Great, thanks so much for the quick reply. 

[fanfare]

Generally, the fourth estimated tax payment is due January 15, even if you file your tax return on Jan 31

When you file has nothing to do with it.

@Anonymous 

[Anonymous]

So, that's where my confusion started. This is what I read:

"January payment. If you file your 2023 Form 1040 or 1040-SR by January 31, 2024, and pay the rest of the tax you owe, you don’t need to make the payment due on January 16, 2024."

"If you don’t pay enough tax by the due date of each of the payment periods, you may be charged a penalty even if you are due a refund when you file your income tax return."

I'm estimating not owing anything for January 16 date, based on first three quarter payments. 

p505.pdf

[fanfare]

OK  If it's in IRS Pub 505, it's a special case.

As you pointed out, it's usually difficult to file by Jan 31,

@Anonymous