I’m late on a quarterly payment, what penalty am I looking at?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

A late quarterly payment can lead to penalties that often depend on the type of tax, how late the payment is, and whether any estimated payments were already made during the year. The balance may also be affected by interest, prior underpayments, and whether the filing is for income tax, payroll tax For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.