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My understanding is if you are expecting to owe more than 2k in taxes you are supposed to pay quarterly estimate taxes.

If you don't you might pay a penalty interest rate on the taxes owed to the IRS (Not sure how much that interest rate is...)

If you make a significant capital gain after the last quarter estimate payment due date do you still get that penalty? Since it is gained after the cutoff date for submitting estimated taxes I would think not but want to be sure.

I'm also not really sure how or where to go to e-file estimated taxes to begin with... I was trying to find it on the IRS website but could only find an explanation of when you have to pay estimated taxes.

mhoran_psprep
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hellyale
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1 Answers1

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The last quarter estimated payment due date is Jan/15 - of the next year. You can’t make any gains for the past year after being already 15 days into the next year.
The same is true for every quarter - the due dates are on the 15th of the month following the quarter.

There are many ways to pay, the simplest is direct from your checking account (https://directpay.irs.gov/directpay/payment?execution=e1s1)

Aganju
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