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Level 1
posted Aug 29, 2023 9:26:03 AM

Application of Estimated payments

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

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1 Best answer
Level 15
Aug 29, 2023 9:38:19 AM

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
Level 15
Aug 29, 2023 9:37:30 AM

what tax year did you designate when making it? 

Level 15
Aug 29, 2023 9:38:19 AM

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 1
Aug 29, 2023 11:06:04 AM

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

Level 15
Aug 30, 2023 10:54:31 AM

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