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1st Time Estimated Taxpayer: Filing Docs?
Old 01-12-2018, 01:29 PM   #1
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1st Time Estimated Taxpayer: Filing Docs?

Hi...Tax year 2017 is the first year we are required to make estimated tax payments. I Just made our 4th quarter one today.

I read IRS Pub 505, but it wasn't clear as to whether I will receive documentation from the IRS as to the amount of my payments prior to filing our taxes. I make our payments through EFTPS, so I guess that site could substantiate the payments, but wondering if we should expect something in the mail from the IRS.

Thanks.
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Old 01-12-2018, 01:40 PM   #2
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No statement that I'm aware of.
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Old 01-12-2018, 01:53 PM   #3
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I've being paying estimated taxes for ten years now (use EFTPS) and have never received a statement. I do, however, save the payment receipts that EFTPS provides.
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Old 01-12-2018, 02:03 PM   #4
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I've being paying estimated taxes for ten years now (use EFTPS) and have never received a statement. I do, however, save the payment receipts that EPTPS provides.
Exactly what I do.
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Old 01-12-2018, 02:04 PM   #5
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+1 your proof of payment is your cancelled check or your bank statement.
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Old 01-12-2018, 02:19 PM   #6
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+1 to all the above. I always logon to EFTPS and my state online tax center when I'm doing my taxes, to verify what I've already paid.
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Old 01-12-2018, 03:55 PM   #7
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I pay online (just did it today in fact ). I save a pdf copy of the payment receipts to my "2017 Taxes" folder on google drive to substantiate the fact that I paid the taxes.
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Old 01-12-2018, 04:40 PM   #8
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Thanks everyone. I maintain a spreadsheet with the dates and amounts of the payments, along with the confirmation numbers that are provided by EFTPS and my state tax efile system.
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Old 01-12-2018, 04:45 PM   #9
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Hi...Tax year 2017 is the first year we are required to make estimated tax payments. I Just made our 4th quarter one today.
They could be necessary for you, but not everyone. IRA withdrawals can be used to pay taxes instead without doing quarterlies. Going on 7 years now.
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Old 01-12-2018, 09:02 PM   #10
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I started estimated payments in 2015 and use the newer IRS Direct Pay system. I get an immediate email confirmation of payment and just file a copy in the current year tax file along with other tax records. Of course, it's also stored in the Excel file I use to calculate each quarterly payment.
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Old 01-13-2018, 12:27 AM   #11
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I started estimated payments in 2015 and use the newer IRS Direct Pay system. I get an immediate email confirmation of payment and just file a copy in the current year tax file along with other tax records. Of course, it's also stored in the Excel file I use to calculate each quarterly payment.
Same here, except I take a screenshot as well and save it in the current tax year directory.

Do the same for my State.
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Old 01-13-2018, 06:18 AM   #12
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Quote:
Originally Posted by Trooper View Post
Hi...Tax year 2017 is the first year we are required to make estimated tax payments. I Just made our 4th quarter one today.

I read IRS Pub 505, but it wasn't clear as to whether I will receive documentation from the IRS as to the amount of my payments prior to filing our taxes. I make our payments through EFTPS, so I guess that site could substantiate the payments, but wondering if we should expect something in the mail from the IRS.

Thanks.
Nope - nada.

EFTPS confirmations and history is the only way I know other than your own meticulous records.

I assume the IRS will eventually let you know if they disagree.
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Old 01-13-2018, 10:21 AM   #13
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I have been making estimated payments off and on since the late 1990s, when my investment income began rising and I was not in the "safe harbor" all the time without it. I has been only the last few years I began making the payments electronically for both federal and state, but only in the 4th quarter. I get electronic confirmations which I print out for my records, and I see the transaction on my bank statement and through my online banking. I also enter it on the worksheet which is part of the paper version of the estimated tax payment forms.


In my personal spreadsheet such as the one I have which mimics a checkbook register, the payment amount is linked to a skeleton version of my income tax forms elsewhere in the spreadsheet.
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Old 01-13-2018, 12:18 PM   #14
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I just logged into the EFTPS website, because I was sure that I could go back in and see a history of payments. A new service has been added: email confirmation. Here's the message on the main screen. Email includes reminder emails and confirmation emails. So I signed up.

Email notifications are now available from EFTPS. EFTPS will send you an email when you schedule a payment in EFTPS or when your payment status changes. To sign up to begin receiving emails click Email Address Management

But to get back to how to see a history of payments. After you log in, click the Payments menu (across the top), then click Check Payment History (left side menu). You can then see a payment history over the last 30 days to 16 months (selectable).

- Rita
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Old 01-13-2018, 12:44 PM   #15
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Good thing I read this thread. I forgot to make my payment.
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