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Yes, there is no penalty for overpaying on on your extension. When you do eventually file your return, you'll simply get a refund for any over-payment. However, if you underpay, then you run the risk of being hit with interest and penalties.
Please Note
Please see the FAQ below for amendment instructions. https://ttlc.intuit.com/replies/3301328
I am thinking of making a second payment via the IRS direct pay site (extension) in case I underestimated. Is this a problem to issue two payments? Or should I pay right after the 15th to avoid it getting confused which payment is which? If I pay after the 15th I don't know what to code the reason to be. I am waiting for my return to be reviewed (using TT Live) before I file it. thanks
There is no harm in making multiple payments, they will each have different tracking. They are similar to estimated payments made throughout the year in that you will reconcile them when you file, with any overage refunded to you when the return is processed.
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april4mar
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cagaston1
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