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DIY Products

Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.

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Esteemed Pioneer
Posts: 81
Registered: ‎11-22-2014
Accepted Solution

New Tax Bill

If Congress passes the new tax bill, how long will it take to get the 2017 tax software updated?  Will it be in time to calculate the January 15, 2018, fourth quarter estimated payments?

 

I assume that increases in tax liability due to last minute changes to the tax law will not cause penalty payments?

Tax Pro
Posts: 5,795
Registered: ‎02-23-2016

Re: New Tax Bill

RB2014,

 

 

January 2018 estimated payments are for the last quarter of tax year 2017 and will not be affected by any new tax laws that are passed in December.  If you reside in a 2017 federally declared disaster area you actually have until January 31st, 2018 to make your estimated payments for the third & fourth quarters & file returns for which you had an extension without penalty.

 

I might add that many deadlines for the 2018 tax year have already passed, so some things, such as the affordable care act, will not change for tax year 2018.