TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Date refund applied to next year takes effect

Forum|Forum|4 years ago
April 10, 2022
3 replies
16 views

I have 40k applied as a refund from 2020 to 2021 which covers my entire tax liability for 2021 (and some for 2022). I am filing an extension.

DO I have to make 2022 Q1, Q2, Q3 estimated payments to avoid penalties since I probably won't file until 10/15/2022, or does the refund "pay those" quarterlies?

Level 9

If the refund that was being applied from 2020 for 2021 covered your tax liability, you do not need to worry about making a payment with your 2021 extension.

The estimated payments you mentioned in year 2022 are for tax year 2022, not this filing season.

Level 2

Thanks. When is the "refund" actually applied, 4/15, or the filing date done before 10/15

Level 9

The refund from 2020 would be applied to the quarter in which you filed the 2020 return. Generally it would be 4/15 if you filed it on time.