Received A Notice From The IRS Today

We had to pay a penalty one year for not paying quarterly. We had moved some money from one type of Certificate of Deposit to another and all the dividends paid at once giving us an unexpected lump of money in our savings account. I asked the IRS how we were supposed to know about this quarterly thing and they said, well you pay the penalty the first time and then you know.:rolleyes:
 

According to the CARES Act, fees should have been exempted. I would suggest that your response was an automatically generated letter from the IRS computer. There should be a number on the top right of the letter that provides a telephone number that would be answered fairly promptly.
 
May 28, 2020

Estimated tax payments normally due April 15 and June 15 are now postponed to July 15.

If you or your business has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, you now have until July 15 to make your payment, without penalty.

For more information visit the coronavirus page of IRS.gov.
 


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