2019 quarterly individual estimated income taxes due 9-16-2019 - Spidell

2019 quarterly individual estimated income taxes due 9-16-2019

Log in to Post

Message Board 2019 quarterly individual estimated income taxes due 9-16-2019

This topic contains 1 reply, has 2 voices, and was last updated by Mark Bole 1 week, 3 days ago.

  • Author
    Posts
  • #179666
    Jacob Goldfinger
    Participant

    on 9-6-2019 I RECEIVED from FTB-
    SUBSCRIPTION .SERVICES @FTB.CA.GOV
    A GENERAL REMINDER TO PAY 2019 THIRD QUARTER ESTIMATED INCOME TAX WITH FORM 540ES
    THIS SEEMS INCORRECT AND MISSLEADING SINCE THE 2019 FTB INSTRUCTIONS STATE THAT NO PAYMENT IS DUE IN THE THIRD QUARTER .
    I HAVE RESPONDED TO FTB TO PLEASE CORRECT THIS NOTICE.
    JACOB G.

  • #179691
    Mark Bole
    Participant

    As a general reminder, I don’t see a problem with the message.  Some taxpayers, to avoid or reduce an underpayment of estimated tax interest charge, may need to make a payment after Jun 15 and before Jan 15 the following year.  It’s true that making a payment by Sep 16 2019 does not meet an installment payment requirement, but if 70% total required installment payment was not made by Jun 15, making a payment now (or anytime before Jan 15) could stop the clock on additional accumulation of late interest penalty.

    In short, all CA taxpayers making estimated payments would potentially benefit from making a mid-September review, even if no payment is made.  The question is, should they try to explain all this in the message they sent, or just refer people to the form instructions.