CCH Financial Planning Toolkit | How To Make Estimated Tax Payments

Monday, December 01, 2008

Tax Planning

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How To Make Estimated Tax Payments

Currently, individuals can make estimated tax payments in two ways:

by crediting all or part of any overpayment on your annual tax return toward your next year's estimated tax (rather than getting a refund)
by sending in your estimated tax payments with payment vouchers from Form 1040-ES, Estimated Tax For Individuals

You can make estimated tax payments by using a credit card. However, you will be charged an additional fee to take advantage of this convenience. To use this option, call 1-888-2PAY-TAX.

Corporations must deposit their estimated tax payments with an authorized financial institution or a Federal Reserve Bank using Form 8109, Federal Tax Deposit (FTD) Coupon.

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