[bankwalker]

filing an extension will not help. when you file the extension you must go ahead and pay what you owe or you will be subject to interest and penalties when you actually file the return. changing your w4 so you get as much money each payday as possible and don’t let the govt hold your money interest free and and then get a refund will definitely help. this will be huge if many taxpayers do it

I pay quarterly. What are the penalties for holding back on the quarterly payments and paying lump sum next April 15 instead?

[Paladin2]

There are rules such that if you can accurately forecast this year against last, you can avoid penalties and shoot for being a few dollars short. File the extension as the legal way to hassle the IRS by sending a shot (admittedly a .22LR) across the bow of the Federal Gov’t. There is also some way to rear load the quarterly payments without penalty. Any way to slow down the revenue and especially make the gov’t do more paperwork. No e-file.