Is there a penalty for being 1 week late with your 3rd quarter estimated payment?
If my 3rd quarterly payment is postmarked Sept 19 instead of Sept 15, what does the IRS do?
If my 3rd quarterly payment is postmarked Sept 19 instead of Sept 15, what does the IRS do?
Yes, but it's very minor. An estimated tax penalty for 1 week would approximate .000577 of the amount of the late payment. E.g,, on a late payment of $500 it would be $0.29.
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