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paying taxes twice before April 15th?

 

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Subject Author Date
paying taxes twice before April 15th? none 03-11-2008
Posted by none on March 11, 2008, 2:45 pm
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I filed an extension and I paid the money I thought I owed as I was
not expecting to file my return before April 15th. I have since
discovered, however, that I underpaid what i am going to owe. How do
I go about paying the remainder before April 15th without incurring a
penalty/interest as I would if I waited until I filed my return? Can
I just file a second extension with the remaining payment? Is there a
form to use just to send in a payment in alone? If I file my actual
return before April 15th will I run into any problems since I already
asked for an extension?

Thanks in advance for any guidance.

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Posted by Paul Thomas, CPA on March 11, 2008, 3:34 pm
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>I filed an extension and I paid the money I thought I owed as I was
> not expecting to file my return before April 15th. I have since
> discovered, however, that I underpaid what i am going to owe. How do
> I go about paying the remainder before April 15th without incurring a
> penalty/interest as I would if I waited until I filed my return? Can
> I just file a second extension with the remaining payment? Is there a
> form to use just to send in a payment in alone?


I'd use Form 1040ES.





> If I file my actual return before April 15th will I run into any
> problems since I already asked for an extension?



Nope.








--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Harlan Lunsford on March 11, 2008, 5:10 pm
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Paul Thomas, CPA wrote:
>
>> I filed an extension and I paid the money I thought I owed as I was
>> not expecting to file my return before April 15th. I have since
>> discovered, however, that I underpaid what i am going to owe. How do
>> I go about paying the remainder before April 15th without incurring a
>> penalty/interest as I would if I waited until I filed my return? Can
>> I just file a second extension with the remaining payment? Is there a
>> form to use just to send in a payment in alone?
>
>
> I'd use Form 1040ES.
>
>
At this stage of the game a 1040es coupon is not the way to go. Since
"none" (if that IS his real name!) filed an extension already, he sent
in estimated balance due with the voucher with that form. Simply print
out another voucher, and mail it in with the money.

ChEAr$,
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by D. Stussy on March 12, 2008, 5:54 pm
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> Paul Thomas, CPA wrote:
> >> I filed an extension and I paid the money I thought I owed as I was
> >> not expecting to file my return before April 15th. I have since
> >> discovered, however, that I underpaid what i am going to owe. How do
> >> I go about paying the remainder before April 15th without incurring a
> >> penalty/interest as I would if I waited until I filed my return? Can
> >> I just file a second extension with the remaining payment? Is there a
> >> form to use just to send in a payment in alone?
> >
> > I'd use Form 1040ES.
> >
> At this stage of the game a 1040es coupon is not the way to go. Since
> "none" (if that IS his real name!) filed an extension already, he sent
> in estimated balance due with the voucher with that form. Simply print
> out another voucher, and mail it in with the money.

I agree. I'd use a 1040-V.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Paultry on March 12, 2008, 9:56 pm
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D. Stussy wrote:
>> Paul Thomas, CPA wrote:
>>>> I filed an extension and I paid the money I thought I owed as I was
>>>> not expecting to file my return before April 15th. I have since
>>>> discovered, however, that I underpaid what i am going to owe. How do
>>>> I go about paying the remainder before April 15th without incurring a
>>>> penalty/interest as I would if I waited until I filed my return? Can
>>>> I just file a second extension with the remaining payment? Is there a
>>>> form to use just to send in a payment in alone?
>>> I'd use Form 1040ES.
>>>
>> At this stage of the game a 1040es coupon is not the way to go. Since
>> "none" (if that IS his real name!) filed an extension already, he sent
>> in estimated balance due with the voucher with that form. Simply print
>> out another voucher, and mail it in with the money.
>
> I agree. I'd use a 1040-V.
>

Especially since an ES payment at this time would probably
be applied to 2008, no matter the date on the form.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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