Estimated Payments - Paper vs. E-File

wpbelson — Tue, 11 Mar 2025 20:17:49 GMT

As an extension to a question I posed yesterday, I am transitioning from years of CPA prepared returns (thru 2023) to TT Premier in 2024. I have entered information for 3 tax returns; 1 for me/my wife (MFJ) and 2 for my adult children (Single). After saving all 3 returns, I noticed Filing Instructions are for "File by Mail". I was planning on filing electronically and having either debit/credit to/from the bank account(s) depending on the results of the tax calculations.

I have received answer(s) on the steps to file electronically and will do so according to those instructions when I have finalized all 3 sets of returns.

My question is with respect to the Estimated Payments. I am familiar with the Paper version of sending in my vouchers + check as that was the method I handled my CPA generated forms up through 2022. In 2023, I utilized the Direct Pay option for the IRS payments and my state option to have the money debited from my bank account. vs. sending in paper checks. In this method, I had to initiate the payment processing on the 4 separate dates.

When I e-file with TT Premier in 2024, how are my estimated payments handled by the IRS and state. Will they automatically be scheduled on the quarterly basis or do I have to initiate something inside TT to make these payments happen in a similar fashion to me having to go to the IRS and state websites to process payments in 2023?

Re: Estimated Payments - Paper vs. E-File

baldietax — Wed, 12 Mar 2025 17:37:48 GMT

TT has nothing to do with ES payments beyond some calcs for suggesting the payments based on the various safe harbor rules and generating vouchers (which you can turn off - Forms mode has a view for the Est Tax options); just go to the IRS and state websites to initiate the payments.

Re: Estimated Payments - Paper vs. E-File

wpbelson — Thu, 13 Mar 2025 19:39:24 GMT

Hi Baldietax,

Thank you for the input on the Estimated payments and that TT only makes calculations. I will utilize the SW calculation values, but make the payments directly on the IRS and state websites like I did in 2023.

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Estimated Payments - Paper vs. E-File

Re: Estimated Payments - Paper vs. E-File

Re: Estimated Payments - Paper vs. E-File