estimated taxes

[kherder1]

I duplicated my Q2 estimated taxes on EFTPS. Can the overpayment be applied to Q3? I don't see anywhere to do that on EFTPS.  So if i Pay nothing in Q3, I will be where I should be due to the duplicated Q2 payment.  If I pay nothing in Q3 and pay my regular amount in Q4, would I be penalized for a $0 payment in Q3, even though the IRS has the total estimated tax due for Q1-3? I called EFTPS and they don't know how to apply my overpayment to Q3 and told me to call the main IRS number, which of course the message told me to try again later.

[rjs]

Estimated tax payments aren't really applied to specific quarters. In effect you have made the Q3 payment early. You will not be penalized if you skip the September payment.

[kherder1]

Thank you so much for this reply, I was hoping for that, but I couldn't find the info or an answer to this anywhere.  Much appreciated, and many thanks,

Kathy

[baldietax · Accepted solution]

ES payments are applied to specific quarters in the penalty calculations on Form 2210, but the overpayment in Q2 will carry forward to Q3 so you should be in balance for Q3, and make final quarterly payment in Q4.

See Form 2210 lines 10-19 for the calculation grid used to figure under/overpayment by quarter.

[kherder1]

Thanks so much for your response, this is what I was hoping, greatly appreciated,

Best, Kathy