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Level 4
Apr 8, 2023 5:22 PM UTC
Solved

Extension overpayment/Q1 Voucher

Can one combine the Q1 estimate with extension payment and do you also need to prepare the voucher?

    Mike9241
    Mike9241Answer
    Level 15
    Apr 8, 2023 5:33 PM UTC

    yes you can combine them as the extension payment. pros do this all the time. - no 1040-ed voucher filed. make absolutely certain that you request any overpayment to be applied to 2023. failure to do this will result in a refund and then penalties for underpayment of 2023 estimated taxes.

     

    Mike9241

    4 replies

    Mike9241
    Level 15
    Mike9241Level 15Answer
    Level 15
    Apr 8, 2023 5:33 PM UTC

    yes you can combine them as the extension payment. pros do this all the time. - no 1040-ed voucher filed. make absolutely certain that you request any overpayment to be applied to 2023. failure to do this will result in a refund and then penalties for underpayment of 2023 estimated taxes.

     

    Mike9241
    LXXVIIAuthor
    Level 4
    Apr 8, 2023 7:17 PM UTC

    Awesome, thanks!