Stimulus Check - Could be used to pay Taxes?

[ShokWaveRider]

For those of us who owe way more to the IRS than the stimulus check will cover, it could be used to offset those payments. We may even get it quicker perhaps.

I would file my taxes now if that were the case, as it is I will wait till the last minute (July 15th) to pay.

 

[jazz4cash]

Yup. It’s money. I owe just a tiny bit set to auto debit on 4/15 and last I heard Stim checks could be auto credited before then.

 

[frank]

has anyone heard if estimated payments are on the usual schedule for federal and state estimates or are there changes?

 

[ShokWaveRider]

We have never had a Tax refund for as long as I have done our taxes, probably about 20 years PLUS or so. Always paid by check up until 2017. Then again in 2018. We used Direct Debit from our CU Checking Account via TurboTax eFile.

Does that mean the IRS has our info, and we will get our stimulus via Direct Deposit, or will we get a check?

 

[scrabbler1]

For those of us like me who won't be getting any checks in the next few months, I expect to be able to net out any theoretical check against my 2020 taxes (2020 income will be much lower) next April. Between that and any excess ACA subsidy I have requalified for, I expect to get a nice refund next year.

 

[Souschef]

has anyone heard if estimated payments are on the usual schedule for federal and state estimates or are there changes?

Estimated payments for IRS and CA have ben moved to 7/15 for the first and second quarter. I have set up my EFTPS and FTB payments to reflect this

 

[jebmke]

Estimated payments for IRS and CA have ben moved to 7/15 for the first and second quarter. I have set up my EFTPS and FTB payments to reflect this

Second quarter for Federal tax payments is June 15. My state, MD conforms to the Federal. 2nd Payment is due on or before June 15, first payment July 15 - ie. Q2, Q3 and Q4 payments are unchanged from normal timeline.

 

[Souschef]

Copied from IRS and FTB sites

deleted

 

[EastWest Gal]

Second quarter for Federal tax payments is June 15. My state, MD conforms to the Federal. 2nd Payment is due on or before June 15, first payment July 15 - ie. Q2, Q3 and Q4 payments are unchanged from normal timeline.

I got a chuckle out of that when I saw that. It’s backwards. I’ll pay my first quarter now, rather than wait. With travel cancelled and no need for heat or AC, right now the govt could use the money, way more than I can at the moment. My taxes will be very low this year.