2023 Estimate tax deadlines waived due to disaster?

Forum|Forum|2 years ago
January 15, 2024
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I believe that the estimated tax deadlines for the year 2023 were reset to October 16, 2023. As I am starting to fill out my 2023 taxes on Turbotax I see that there are late filing penalties. Is this an error in Turbotax or am I mistaken?

VolvoGirl

Employee

2022 returns were due Oct. 16, 2023. Nothing to do with 2023 returns. There wouldn't be a late filing penalty on 2023 for 2022. And Turbo Tax doesn't assess a late filing fee. Are you seeing a penalty on 1040 line 38?

It's not for filing or paying late. It doesn't have to do with last year's tax return or not paying estimates for this year. The penalty is an "estimated" amount. It's a penalty if you owe too much or for not paying in enough withholding during the year or not paying in evenly. It's very common and normal and expected for the IRS or state to bill you for more or send you a refund.