2012 Estimated Income Tax dates

[mickeyd]

For those who send in EIT cash to the IRS, here's the dope you will need~

Estimated tax payments for the tax year 2012 are as follows:

First payment due - April 17, 2012
Second payment due - June 15, 2012
Third payment due - September 17, 2012
Final payment due - January 15, 2013

[audreyh1]

And if you aren't paying your taxes electronically yet, definitely consider using the Electronic Federal Tax Payment System eftps.gov . It's sooooo convenient.

[Midpack]

Quote:

Originally Posted by audreyh1 And if you aren't paying your taxes electronically yet, definitely consider using the Electronic Federal Tax Payment System eftps.gov . It's sooooo convenient.

Hey thanks, I had not stumbled across that site. Having only paid quarterly estimated taxes directly (vs withholding) on rare occasion in the past, now that I'll have to do so regularly and given that I don't use snail mail for anything I can avoid, that site will be helpful! I just added it to my favorites, thanks...

[samclem]

Quote:

Originally Posted by audreyh1 And if you aren't paying your taxes electronically yet, definitely consider using the Electronic Federal Tax Payment System eftps.gov . It's sooooo convenient.

+1. It was a minor PITA to set up (wait for the special password in the mail, then another piece of mail comes later for authentication, etc,etc. Why so many cloak-and dagger security hoops--I'm paying THEM?!), but every year after that it's been very simple to use. Just don't lose your password!

[audreyh1]

Sure! You need to set up an account and get some passwords, and then it's easy! You just schedule the amount and date for it to be withdrawn. People with known regular estimated tax payments can schedule all 4 of them - just be sure you have the funds in your bank account!

I used to send my tax payments in registered mail because I wanted a way to prove it had been received. What a pain! Now no trip to the post office and I can download my payment history as "proof". I just have to make sure I have the funds in my bank account by the scheduled date.

I believe you can schedule or cancel a payment as late as one day in advance.

The most important thing is to make sure you assign the correct year to each estimated payment - Jan 15 will belong to the prior year and the remainder to the current year. I screwed this up once but was able to get it corrected through a phone call.

And you use the same system to make any April 15th final payment due for the prior year's taxes (again, make sure you assign the correct year). Basically, when you sign in you get to specify whether your are doing a 1040ES payment or a straight 1040 payment. It also handles amended tax payments.

Audrey

[mickeyd]

Quote:

Originally Posted by audreyh1 And if you aren't paying your taxes electronically yet, definitely consider using the Electronic Federal Tax Payment System eftps.gov . It's sooooo convenient.

You are correct Audrey. I think it was here that I got wind of EFTPS a few years ago and have been using it with EASE ever since.