Underpayment

Forum|Forum|2 years ago
January 3, 2024
2 replies
6 views

I have underpaid my federal taxes (i.e. insufficient withholdings) for CY 2023.

All withholdings were via withholdings on my paychecks. I did NOT make any separate quarterly payments in 2023.

It is now January 2nd, 2024. Can I make a payment now, for the CY 2023 tax year?

Not A Product Question

Bsch4477

Level 15

Yes, you can but you still might owe a penalty since tax wasn’t paid throughout the year.

rjs

Level 15

Yes, you can make an estimated tax payment for 2023 until January 16, 2024. Make sure that you clearly designate the payment as being estimated tax for 2023.

Underpayment

2 replies

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