estimated taxes due Sep 17

[GrayHare]

A quick reminder that in the USA today is the due date for a quarterly estimated tax payment.

 

[TwoByFour]

Sign up for EFTPS, the automated on-line payment system. Then you never have to worry about missing a pre-payment. It's what I do.

 

[audreyh1]

I got an email from our savings account that the IRS already pulled the scheduled funds!

 

[OldShooter]

We pay ours in mid-December via 100% withholding on an IRA withdrawal. Taxes paid via withholding are considered to be paid over the course of the year, so there is no need for us to make any quarterly payments at all.

 

[Fedup]

Thanks for the reminder. I mailed ours last Monday. I’m one of those slow pokes who mails in tax returns and estimated taxes.

 

[karen1972]

Thanks, I remembered Saturday when I started doing an amended return as Vanguard just sent me a corrected 1099. At least it was in my favor.

 

[Big_Hitter]

didn't the IRS issue disaster relief today?

 

[Alan]

I got an email from our savings account that the IRS already pulled the scheduled funds!

+1

They also send a reminder a few days ahead of time that the payment is going to be made.

 

[Walt34]

We only do estimated payments to WV since the pension and SS do withholding for federal. It was mailed out this morning.

 

[audreyh1]

+1

They also send a reminder a few days ahead of time that the payment is going to be made.

Yes - EFTPS is doing that now which is very very nice. I now get an email whenever I schedule a payment, and this time I got a reminder a few days ago! Very nice!

 

[MarieIG]

Took my to the post office Sunday after church.

 

[mrfeh]

Been paying estimated taxes for 3 years now, and I've never worried too much about the official deadline. I haven't paid September's yet, and I know I've made late (a couple weeks) payments previous years.

And I haven't been penalized. I remember a thread either here or on bogleheads where other people had the same experience.

 

[camfused]

Hey folks. I took over my dad's finances early this year, and have been busy with my mom's death and his illnesses and selling his house etc. I just realized that he probably should have been paying quarterly taxes.

Should I just forget it for this year now, or should I log into the IRS site and give them the entire year's worth, or maybe 3 quarters, or what?

Thanks for any advice.

 

[Dtail]

Will be lucky this year and not need to pay any taxes due to ACA management of income.

 

[MichaelB]

Hey folks. I took over my dad's finances early this year, and have been busy with my mom's death and his illnesses and selling his house etc. I just realized that he probably should have been paying quarterly taxes.

Should I just forget it for this year now, or should I log into the IRS site and give them the entire year's worth, or maybe 3 quarters, or what?

Thanks for any advice.

There’s no advantage to paying the 4th installment early. Even if the first 3 quarters were missed, the interest continues to accrue (at 0.5% per month), so pay them now.

 

[pb4uski]

Hey folks. I took over my dad's finances early this year, and have been busy with my mom's death and his illnesses and selling his house etc. I just realized that he probably should have been paying quarterly taxes.

Should I just forget it for this year now, or should I log into the IRS site and give them the entire year's worth, or maybe 3 quarters, or what?

Thanks for any advice.

If he has a tiRA, do a withdrawal for the amount of taxes and have it 100% withheld... taxes withheld in this manner are considered paid throughout 2018 even if withheld in December 2018.

 

[camfused]

MichaelB, ok, thanks.

pb4uski, no IRAs or anything like that. Just SS and a pension. No withholdings.

 

[audreyh1]

Been paying estimated taxes for 3 years now, and I've never worried too much about the official deadline. I haven't paid September's yet, and I know I've made late (a couple weeks) payments previous years.

And I haven't been penalized. I remember a thread either here or on bogleheads where other people had the same experience.

I suppose if you provide software like TurboTax with the actual dates of payment it might figure the small penalty for you. Otherwise I suppose you’d just have to see if the IRS would catch it.