Estimated Tax Payments

mitchden1 · ‎March 7, 2023

Can and should I make my quarterly estimated tax payments online and debit my checking account, rather than mailing the IRS checks? If so, how do I do this? Also, can I make additional payments anytime throughout the year?

Can I do the same thing for my State tax payment?

MayaD · ‎March 7, 2023

Yes, you can make the payments online and you can make additional payments.

Per IRS: You may send estimated tax payments with Form 1040-ES by mail, or you can pay online, by phone or from your mobile device using the IRS2Go app. You can also make your estimated tax payments through your online account, where you can see your payment history and other tax records.

For more information check: IRS.gov

As for the state, which state return are you filing?

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Eliut · ‎March 7, 2023

Yes, you can establish a schedule of estimated payments by enrolling in The Electronic Federal Tax Payment System® (EFTPS). The tax payment service is provided free by the U.S. Department of the Treasury. After you've enrolled and received your credentials, you can pay any tax estimates or even due to the Internal Revenue Service (IRS) using this system by establishing quarterly dates to debit your bank account.

The process to enroll is a two-step process. The first step is online at https://www.eftps.gov/eftps/ . Once you complete filling out the form, it will display a window for you to print or save; I recommend doing both. The second step is a letter you will receive in the mail with your PIN. This will allow access to make immediate or future payments.