Additional Payment to IRS for 2021

Technical topics regarding tax preparation.
#1
Jake  
Posts:
1384
Joined:
12-May-2014 3:19pm
Location:
Columbus, Ohio
91 yr old Taxpayer has timely filed Form 4868 with a payment of $10,000.
A preliminary review shows that this taxpayer is seven thousand dollars short due to not including some significant LTCG in 2021. To avoid additional 5% penalties of probably $350/mo he is advised to send an additional 2021 tax payment by May 15,2022. The IRS payment site I found only provides for making 2022 payments.

Would a late additional Jan. 2022 estimated tax payment for 2021 work?
Another 4868 with additional payment???
 

#2
Jake  
Posts:
1384
Joined:
12-May-2014 3:19pm
Location:
Columbus, Ohio
I found this "Direct Pay IRS; will this work

Direct Pay

Step 1 of 5
Tax Information
Select the appropriate payment type and reason for your payment. Information about payment types can be found by clicking the help icon (?). If you are making more than one type of payment or making payments for more than one tax year, submit each of them separately.

Business Taxes?
All business tax payments should be made through the Electronic Federal Tax Payment System (EFTPS)

Reason for Payment required

Balance Due
Apply Payment To required

Income Tax - Form 1040

Tax Period for Payment required

2021
 

#3
lckent  
Posts:
597
Joined:
21-Apr-2014 8:19pm
Location:
Colorado
The 5% per month penalty is for late filing, late payment is .5% per month. If you have the information, just file the 1040.
CPA, Retired
 


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