You are required to make quarterly estimated income tax payments if you can reasonably expect your tax liability to exceed the amount withheld by $500 or more and you expect your withholding to be less than the smaller of
1) 70% of your current year’s liability OR
2) the tax liability shown on your return for the preceding taxable year of twelve months.
Taxpayers who fail to pay estimated income tax payments may be subject to interest on the amount underpaid.
If at least 66.66% of your gross income for this year or last year is from farming, estimated income tax payments are not required.
For Estimated Tax Payment Form OW-8-ES and other current Oklahoma tax forms, visit the Forms page.
Delinquent Penalty and Interest
If at least 90% of the tax liability is not paid by the original due date of the return, the unpaid tax becomes delinquent and a penalty of 5% shall be charged thereon.
If less than 100% of the tax liability is paid by the original due date of the return, interest on the unpaid amount is assessed, even when no delinquent penalty is assessed. The unpaid tax becomes delinquent and interest is charged at the rate of 1.25% per month from the date of the delinquency until paid.
Underpayment of Estimated Tax Penalty
Estimated tax payments are required if the tax liability exceeds withholding by $500 or more. To avoid the underpayment of estimated tax interest, timely filed estimated tax payments and withholding are required to be equal to the smaller of
1) 70% of the current year tax liability OR
2) 100% of the prior year tax liability.
The underpayment of estimated tax Interest due on any quarterly due date is computed at a rate of 20% per annum for the period of underpayment.
No underpayment of estimated tax interest will be imposed if the tax liability shown on the return is less than $1,000.
If your account has been referred to one of the following contract collection agencies, please work with them to resolve your account. If you would like to verify a collection agency, or if you think there is an error with your account, please contact OTC Collections at 405.521.2212.
OTC Contracted Collection Agencies:
If you have already filed your current year's individual income tax return and need to make a payment, you must also include the 511-V voucher with your payment.
Oklahoma Tax Commission Post Office Box 26890 Oklahoma City, OK 73126-0890
Oklahoma Tax Commission Post Office Box 26800 Oklahoma City, OK 73126-0800
Oklahoma Tax Commission Post Office Box 269045 Oklahoma City, OK 73126-9045
Oklahoma Tax Commission Post Office Box 26800 Oklahoma City, OK 73126-0800
Additional mailing addresses can be found in the Help Center.
