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Level 2
August 29, 2023
Solved

Application of Estimated payments

  • August 29, 2023
  • 4 replies
  • 56 views

When I make an estimated tax payment on January 15, 2024 will it be applied to tax year 2023 or tax year 2024?

    Best answer by VolvoGirl

    It can be a 2023 Estimated payment OR an extension payment for 2024.  Be sure to use the right form 1040ES or pay online and select 2023.   The four 1040ES quarterly estimates for 2023  are due
    April 18, 2023
    June 15, 2023
    Sept 15, 2023
    Jan 16, 2024

    4 replies

    Mike9241
    Level 15
    Level 15
    August 29, 2023

    what tax year did you designate when making it? 

    Mike9241
    VolvoGirl
    VolvoGirlAnswer
    Level 15
    August 29, 2023

    It can be a 2023 Estimated payment OR an extension payment for 2024.  Be sure to use the right form 1040ES or pay online and select 2023.   The four 1040ES quarterly estimates for 2023  are due
    April 18, 2023
    June 15, 2023
    Sept 15, 2023
    Jan 16, 2024

    Level 2
    August 29, 2023

    Thank you.  Was just taking a look at my taxes and got a little turned around in my head.  I'm good now thanks for the help

    fanfare
    Level 15
    August 30, 2023

    When [you] make an estimated tax payment on January 15 [ or 18 if any holidays], 2024,

    that is  the last day to make your timely fourth quarter estimated tax payment for 2023.

     

    Still you must designate the tax year, either with the voucher, or at the setup of your online payment.

    If you send a check, write "For <tax year>" on the check.

     

    @craiganderson27