What if I'm behind and can't pay my June 15 quarterly tax payment and instead pay in August after I catch up?

Question

Will there be fees? Grace period? Please help!

Answer 1

Pay what you can. The unpaid amount will have a penalty and interest attached.

Answer 2

In theory, you're supposed to make the quarterly payments. In reality, if you pay in August and catch up, you won't have a problem as long as you've paid in enough when you file your taxes to cover what you owe.

There aren't grace periods on quarterly payments.

Answer 3

Keep in touch - the KIT principle. Notify them if you cannot pay your quarterlies. Not notifying them can get you into trouble if they find out about it from a disgruntled employee, etc. They will inform you if you have to pay any late fees, usually not. They usually work with you if you notify them.

Answer 4

An estimated tax penalty will probably be due on Form 2210 for this year when you file your return. This penalty is really just interest at 8% for the days you were late. Not a really big deal.

Answer 5

there is only interest u have to pay and there is no grace period

Answer 6

I suggest you call the IRS ASAP.
You'll still be subject to fees and interest, but the worst thing you can do is simply ignore them.
Grace period, None.

Answer 7

Due June 15th means due June 15th. There is no "grace period". You will be charged interest.

Answer 8

No grace periods but can apply for waiver of penalties and just pay interest.
If you're an individual they usually wont bother you if you're late as long as you make 4 pymts.
not so if you're a business

Answer 9

You will be subject to penalties and accrue interest as well..