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Level 4
April 8, 2023
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
    April 8, 2023

    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
    April 8, 2023

    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
    April 8, 2023

    Awesome, thanks!