Estimated taxes .. Can you pay once for the year in the 1st quarter?

prdfy · ‎February 27, 2024

Sorry .. I can't seem to find a definite yes or no answer for this.

Instead of paying every quarter, can you overpay your estimated taxes for Quarter 1 to cover the whole year and not send anything for quarters 2,3,4? Or will you still get a penalty for not paying anything or filing anything for those quarters remaining?

Thank you

JulieS · ‎February 27, 2024

Yes, if you make that single payment for the first quarter, that will satisfy the requirements assuming the amount paid meets the requirements.

The reason is that the first quarter is on time and the second, third , and fourth quarters are paid early.

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View solution in original post

JulieS · ‎February 27, 2024

Yes, if you make that single payment for the first quarter, that will satisfy the requirements assuming the amount paid meets the requirements.

The reason is that the first quarter is on time and the second, third , and fourth quarters are paid early.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Estimated taxes .. Can you pay once for the year in the 1st quarter?