3Q2017 Estimated taxes are due 15 Sep 2017

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VictoriaF
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3Q2017 Estimated taxes are due 15 Sep 2017

Post by VictoriaF » Thu Sep 14, 2017 8:52 am

This is a reminder to pay your estimated taxes for the 3rd quarter of 2017. They are due tomorrow, 15 September 2017.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

Grt2bOutdoors
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by Grt2bOutdoors » Thu Sep 14, 2017 9:14 am

The IRS and American people thank you for the reminder. :)
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

fantasytensai
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by fantasytensai » Thu Sep 14, 2017 9:46 am

I paid my Q3 taxes today, but for Q2, I was a couple weeks late (paid July 5). The amount owed was $1600. What am I realistically looking at as far as penalty is concerned, like 20 bucks?

JBTX
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by JBTX » Thu Sep 14, 2017 9:51 am

Thanks for the reminder. These early quarter due dates slip up on me. In my case I should be good this quarter.

kaneohe
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by kaneohe » Thu Sep 14, 2017 10:18 am

fantasytensai wrote:
Thu Sep 14, 2017 9:46 am
I paid my Q3 taxes today, but for Q2, I was a couple weeks late (paid July 5). The amount owed was $1600. What am I realistically looking at as far as penalty is concerned, like 20 bucks?
Guessing !600 x 3% and 3wks/52 = a few bucks so sleep well.............

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VictoriaF
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by VictoriaF » Thu Sep 14, 2017 10:20 am

fantasytensai wrote:
Thu Sep 14, 2017 9:46 am
I paid my Q3 taxes today, but for Q2, I was a couple weeks late (paid July 5). The amount owed was $1600. What am I realistically looking at as far as penalty is concerned, like 20 bucks?
There is an IRS form that will lead you to the amount you owe, but it's rather complex. I don't know what will happen if you forget about that delay and let the IRS to calculate the penalty, if they notice.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

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VictoriaF
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by VictoriaF » Thu Sep 14, 2017 10:22 am

Grt2bOutdoors wrote:
Thu Sep 14, 2017 9:14 am
The IRS and American people thank you for the reminder. :)
The IRS and American people are welcome.

As I was paying my estimated tax, I was thinking about people in Florida who either don't have electricity, or are dealing with the cleanup, or have not returned home yet. Estimated taxes are probably the last thing on their minds.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

thangngo
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by thangngo » Thu Sep 14, 2017 10:26 am

VictoriaF wrote:
Thu Sep 14, 2017 8:52 am
This is a reminder to pay your estimated taxes for the 3rd quarter of 2017. They are due tomorrow, 15 September 2017.

Victoria
People who reside in areas affected by hurricane Harvey are given extended due date until 1/15/18 to pay 3Q ES tax.

Lexi
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by Lexi » Thu Sep 14, 2017 10:30 am

VictoriaF wrote:
Thu Sep 14, 2017 10:22 am
Grt2bOutdoors wrote:
Thu Sep 14, 2017 9:14 am
The IRS and American people thank you for the reminder. :)
The IRS and American people are welcome.

As I was paying my estimated tax, I was thinking about people in Florida who either don't have electricity, or are dealing with the cleanup, or have not returned home yet. Estimated taxes are probably the last thing on their minds.

Victoria
The IRS has announced extensions of deadlines for those in declared disaster zones for Hurricanes Harvey or Irma. Check the IRS website for details if applicable.

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Toons
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by Toons » Thu Sep 14, 2017 10:35 am

My Quarterlies are set up automatic via Eftps.
I would rather have them "pull" it rather than me,
"Push it".
As I age ,,one less thing to forget to do. :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

feh
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by feh » Thu Sep 14, 2017 11:10 am

VictoriaF wrote:
Thu Sep 14, 2017 10:20 am
fantasytensai wrote:
Thu Sep 14, 2017 9:46 am
I paid my Q3 taxes today, but for Q2, I was a couple weeks late (paid July 5). The amount owed was $1600. What am I realistically looking at as far as penalty is concerned, like 20 bucks?
There is an IRS form that will lead you to the amount you owe, but it's rather complex. I don't know what will happen if you forget about that delay and let the IRS to calculate the penalty, if they notice.
2016 was the first year I paid estimated taxes, and I'm almost positive I didn't pay buy a couple of the deadlines. If the IRS noticed, they didn't tell/penalize me.

Whatyear?
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by Whatyear? » Thu Sep 14, 2017 11:57 am

I've never paid estimated taxes, even when TurboTax tells me to based on my prior year tax return filing. And I've never been assessed any penalties as a result.

MarkNYC
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by MarkNYC » Thu Sep 14, 2017 12:06 pm

Whatyear? wrote:
Thu Sep 14, 2017 11:57 am
I've never paid estimated taxes, even when TurboTax tells me to based on my prior year tax return filing. And I've never been assessed any penalties as a result.
TurboTax and other tax programs will generate estimated taxes for the following year based on various default options that are set.

The reason you have not been assessed penalties is because your withholding each year exceeds the lesser of (1) 90% of your current year tax or (2) 100% or 110% (based on AGI) of your prior year tax

TravelGeek
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by TravelGeek » Thu Sep 14, 2017 2:33 pm

feh wrote:
Thu Sep 14, 2017 11:10 am
2016 was the first year I paid estimated taxes, and I'm almost positive I didn't pay buy a couple of the deadlines. If the IRS noticed, they didn't tell/penalize me.
I have paid estimated taxes (based on TurboTax estimates) in addition to employer-deducted taxes for many years. I have missed deadlines by a few days on a regular basis and it's never been a problem (I have also prepaid way early when I was going on vacation). Just about to drop this quarter's checks in the mail.

jdb
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Re: 3Q2017 Estimated taxes are due 15 Sep 2017

Post by jdb » Thu Sep 14, 2017 3:57 pm

Thanks Victoria. Wish you had posted this in early June for the second installment, I was a couple months late, just forgot. But for those of us in the Florida Counties impacted by Hurricane Irma we have until end of January 2018. And very helpful, running house on generator for electric have no Internet other than iPhone (and surprisingly, can't charge the Tesla vehicle, guess the electrical source not steady enough) so can't prepare the necessary form anyway unless go to post office.

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