I live in San Francisco and am able to defer my quarterly estimated tax payments for 2023 until mid October without penalty or interest. I will pay my quarterly tax payments (for Q1, Q2 & Q3) next week.
Should I make each quarterly payment separately to the IRS and California FTB?
Also, the IRS and California FTB should automatically know not to charge me any late fees or interest charges, and I do not have to make any special mention along with my payment, right?
Hello,
Yes you should make your quarterly payments separately to the Internal Revenue Service and the California Franchise Tax Board separately.
You can schedule your estimated payments to the IRS online at
https://www.irs.gov/payments/eftps-the-electronic-federal-tax-payment-system
I have included information on how to pay your FTB estimated tax payments:
https://www.ftb.ca.gov/pay/estimated-tax-payments.html
You should indicate which quarter you are making the estimated tax payments for. The IRS and FTB will know that there is an extension of time to make payments. When you file your 2023 tax return , you will enter your estimated payments for each quarter there and an estimated tax penalty will not apply to your 2023 tax return.
I hope this resolves your question.
Mary , tax expert 10 years experience
Great question!!
You can make one payment to the IRS and one to CA. Make your payment online. Here is the IRS link:
Here is the CA link:
https://www.ftb.ca.gov/pay/index.html
If there is a miscalcuation with interest in 2023, you can fill out this form for the IRS and ask that they be waived:
https://www.irs.gov/forms-pubs/about-form-843 There should be a youtube video that shows you how to fill out this form.
Here is the CA info:
A One-Time Abatement can be requested verbally or in writing.
You may file FTB 2918 or call 800-689-4776 to request that we cancel a penalty based on one-time abatement.
We will begin to accept one-time penalty abatement requests on April 17, 2023.
I sure hope this has helped.
If you reply back, I will try to keep an eye open to assist further.
Please give me a thumbs up if this was helpful.
Katie S.
Hello,
Yes you should make your quarterly payments separately to the Internal Revenue Service and the California Franchise Tax Board separately.
You can schedule your estimated payments to the IRS online at
https://www.irs.gov/payments/eftps-the-electronic-federal-tax-payment-system
I have included information on how to pay your FTB estimated tax payments:
https://www.ftb.ca.gov/pay/estimated-tax-payments.html
You should indicate which quarter you are making the estimated tax payments for. The IRS and FTB will know that there is an extension of time to make payments. When you file your 2023 tax return , you will enter your estimated payments for each quarter there and an estimated tax penalty will not apply to your 2023 tax return.
I hope this resolves your question.
Mary , tax expert 10 years experience