Prepayment of taxes in TurboTax

[WDM67]

Within Turbotax Home & Business, I can enter in the tax amount I prepaid in Jan 2022 for 2021 taxes, and that is recorded correctly in my  personal IRS online account. Should I be expecting a form from the IRS (like a W-2 or 1099 or ???) stating the same?

FYI, I have a one person LLC for part time consulting work, resulting in 4th Qtr invoices and payments.

[MaryK4 · Accepted solution]

No, when you make estimated tax payments, the IRS will not send you a reminder or form indicating the amount.  However, if it is properly credited to your tax account and you forget to include it, the IRS will recalculate your refund and mail you the difference when you file your tax return.

[WDM67]

MaryK,

Thx you for that reassurance. Am wanting to keep the IRS happy!  😁

[long_time_tax_preparer]

No - the IRS doesn't send out year-end notices on interim tax amounts paid. The responsibility is with the taxpayer. The IRS will, however, validate the amounts paid indicated on the return to the amounts received by the Service.

[JuneG]

I submitted a 2021 tax return for my partner who has since died and have had the return "under review" for 16 months.  When I check the "where is my refund" site, it is still held for review.  I am trying to contact the IRS, and decided to review the return before I called them.  I checked our bank accounts and discovered that two of the checks he had written to prepay taxes were never cashed by the IRS or deducted from our account.  The result is that the amount prepaid was overstated on the 2021 return and even though a refund is still due, it is significantly smaller than was expected from the return he prepared.  I am sure that is why the return is being reviewed.  I thought I could do an amended return, but overstatement of prepaid taxes is not one of the selections allowing amendment of a return in TurboTax.  I am hoping to get the answer from the IRS, but am having some difficulty getting through to them to actually speak to someone.  Has anyone else encountered this problem or have any suggestions for me?  Thank you!

[DoninGA]

@JuneG 

Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line.
So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead.
Then press 1 for "form, tax history, or payment".
Then press 3 "for all other questions."
Then press 2 "for all other questions."
- When it asks you to enter your SSN or EIN to access your account information, don't enter anything.
- After it asks twice, you will get another menu.

Press 2 for personal or individual tax questions.
Then press 3 for all other inquiries
It should then transfer you to an agent.
Or you can contact your local IRS office. See this IRS website for local IRS offices - http://www.irs.gov/uac/Contact-Your-Local-IRS-Office-1 or call 1-844-545-5640 to set up an appointment
Or you may want to contact a Taxpayer Advocate in your area. See this IRS website for Taxpayer Advocate in your area and a toll free number - http://www.irs.gov/Advocate/Local-Taxpayer-Advocate