I forgot to pay last three quarters of estimated taxes amounting to $6000. What will be neater to send IRS last three coupons along with $2000 each or just send IRS the last coupons with a $6000 check. I guess by default, IRS will average the outstanding estimated amounts across quarters anyway.
When I did calculations it came with a penalty of like $300, if I do nothing and pay all on 15th with my annual return.
What the best way to do it without raising any red flags.
Just send one check with one coupon.
Phil Marti VITA/TCE Volunteer Claksburg, MD
Send one check with one coupon. File form 2210 with your taxes on which you compute the penalty. The penalty is based on when you actually paid, not on what coupon you sent with the check.
R's, John
Sometimes the IRS will automatically compute the 2210 for you (using the equal quarters method) and send you the bill. If your income is skewed toward the 2nd half of the year, it might be a slightly lower penalty to computer the 2210 with annualized income.
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