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You can also send a paper check(s) to NYS, so long as it (they) are accompanied by the IT-2105 Estimated Tax Form (which you can print off from TurboTax). If the amount is relatively low, and you don't mind giving the money ahead of time, I suppose one check for the whole thing is an option, but if it is that low, you may just want to up the withholding on one of your income sources, and/or find a bank that pays some interest instead. The advantage of scheduling the payments with New York electronically is that you don't have to worry about when the quarterly is due, if you happen to be busy or on a trip or something, it still gets paid on time. But whatever works for you. I am not one to throw stones at paying a little early, I do that myself with the 4th quarter, paying that at the end of December, instead of January 15th, as it simplifies the tax calculations, and you've just done whatever end-of-year investment adjustments, have a better idea on what you'll owe (or at least, have to pay to avoid a penalty).
@pwjone1 If you read back through this thread, you'll see that @SuziM , a TurboTax Administrator, is actively involved in investigating this issue. She will respond here, or let me know to, whenever updates are available.
@Roberto99 As for other ways to make the remaining 3 payments, I'd highly recommend scheduling these payments via the NY DOR website to be directly debited from your bank account on the dates you schedule. When you've scheduled these payments, you can rest easy that the payments will be debited by the state. Be sure you print/save a copy of your scheduled payments as proof of scheduling.
You can, of course, always pay with a check and the vouchers that TurboTax provides. But there's greater risk sending paper checks, as well as the occasional issues with mail being delivered in time. If you decide to mail in your payments, I suggest sending separately and around the time that the estimated tax payments are due. It is not advisable to send one check with a grand total of the 3 remaining payments. Far too easy for the state to get that all mixed up.
I made the mistake of using the TT quarterly estimated tax scheduler app and was similarly unimpressed by its lack of convenience. But it’s worse than that. After I had laboriously worked my way through all three of my estimated payments, I was left with nothing – no confirmations, and no list of my scheduled payments. All I can do now is to wait for each of the payment dates and hope that I receive an email from TT reminding me to make sure there are sufficient funds in the nominated account. If that happens for the June payment, then I guess I can assume that the scheduling actually worked. If I don’t get the reminder and/or I don’t get any confirmation that the payment was made, then I’m screwed. My best option at that point would be to do what I should have done all along and set everything up again using the NYS web site, accepting whatever penalty is levied for making the June payment a few days late. At least NYS provides a confirmatory list of my scheduled payments, together with notification when they are received.
Count me profoundly disappointed by this inexcusably mismanaged change in the way NY State estimated tax payments are handled by TurboTax desktop.
Oh, and BTW, the TT estimated tax payment instructions noted in an earlier post still states that “For TurboTax Desktop, you can schedule bank withdrawals for your estimated state tax payments when you get to the File section.” So much for all the promises that TT would make it right.
I scheduled the first NY estimated tax payment through TT and despite my requesting that the funds be withdrawn on April 12, this did not occur. In order not to be late, I'm planning on sending the state a check for the first payment on 4/15 and if it turns out to be a duplicate, I'll apply it to the June installment.
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