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Old 01-16-2007, 04:52 PM
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Estimated tax payments

I am expecting a refund this year, I would like to apply the entire refund as a estimated tax payments for 2007. Can I ask IRS to apply the refund as Estimated tax payments and avoid making the quarterly payments and hence avoid incurring penalties and interest?



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Old 01-16-2007, 08:54 PM
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Dear Curlopt,

Yes, you can make that election when you file your 2006 tax return. In fact, it may be a smart way to make those future estimated tax payments as you dont have to worry about mailing those payments on time.



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