I missed calculated my estimates taxes and found I underpaid significantly.
Should I go ahead and pay extra estimated taxes for 2020 using EFTPS to minimize interest and penalties?
I can't file my taxes now as I am waiting on brokerage statements.
01375
1 Best answer
MinhT1
Expert Alumni
Jan 25, 2021 9:19:21 AM
It is too late to pay estimated taxes now as any payments made after 01/15/2021 (and before 04/15/2021) will be counted as paid on 04/15/2021 by the IRS. You should file your tax return and pay any tax due (and any underpayment penalty) by 04/15/2021.
1 Replies
MinhT1
Expert Alumni
Jan 25, 2021 9:19:21 AM
It is too late to pay estimated taxes now as any payments made after 01/15/2021 (and before 04/15/2021) will be counted as paid on 04/15/2021 by the IRS. You should file your tax return and pay any tax due (and any underpayment penalty) by 04/15/2021.