Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
rajunallappa-msn
Level 2

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020.

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020. Due to the pandemic, I thought they had extended the date last year.
1 Best answer

Accepted Solutions
Mike9241
Level 15

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020.

you are correct as to the due date.  how did you make the payment?. if it was not postmarked by 7/15 it was late. if you did it through a 7/14 e-payment, then it was timely. perhaps the payment was not sufficient to cover 45% of 2020 tax or 50% of 2019 tax. both the first and second estimated tax payments were due 7/15/2020

 

 

 

View solution in original post

3 Replies
Mike9241
Level 15

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020.

you are correct as to the due date.  how did you make the payment?. if it was not postmarked by 7/15 it was late. if you did it through a 7/14 e-payment, then it was timely. perhaps the payment was not sufficient to cover 45% of 2020 tax or 50% of 2019 tax. both the first and second estimated tax payments were due 7/15/2020

 

 

 

View solution in original post

rajunallappa-msn
Level 2

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020.

Thanks Mike for your prompt response. It was debited from my bank account on 7/14 and it was about 70% of my total tax bill for 2020. I think I need to challenge their decision.

rajunallappa-msn
Level 2

Last year I paid advanced tax on July 14th. Why did IRS charge me a penalty for late payment when I think July 14th was the due date for the 1st quarter of 2020.

I just finished talking with an agent at Illinois Tax department and she said for IL, the date for estimated tax payment wasn't changed last year and hence I was charged. This is very strange, I thought I had read it had changed for IL too

Dynamic AdsDynamic Ads
Privacy Settings
v