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Oops - I under estimated first provisional tax payment what now?

Posted 28 August 2013 under Tax Q&A


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Hi Tim

I just filed and paid my IRP6 for the first payment just to realize that I might have under-estimated. Do I need to ask for a correction or can I rectify it with my second payment? Will there be any penalties?

Please let me know

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.

TaxTim TaxTim says:
28 August 2013 at 23:52

I suggest rectifying it now and requesting a correction and resubmitting. If you did underestimate then there are serious penalties and interest that could accrue.


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