11 Jan Quarterly Estimated Tax Payments Reminder
If you are making quarterly estimated tax payments to the IRS, the due date for the September 1st – December 31st, 2022 quarter of the year is January 17th, 2023. You may be able to skip the January 18th payment if you file your 2022 return by January 31st, 2023, and pay all taxes due.
For payments made using IRS Direct Pay, you can make payments until 11:45 PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.
For 2022, here’s when estimated quarterly tax payments are due:
|
If you earned income during this period |
Estimated tax payment deadline |
|---|---|
|
Sept. 1 – Dec. 31, 2022 |
Jan. 17, 2022 |
|
Jan. 1 – Mar. 31, 2023 |
April 18, 2023 |
|
April 1 – May 31, 2023 |
June 15, 2023 |
|
June 1 – Aug. 31, 2023 |
Sept. 15, 2023 |
|
Sept. 1 – Dec. 31, 2023 |
Jan. 15, 2024 |
These dates don’t coincide with regular calendar quarters, so plan ahead. Back in the day, writing a check was pretty much the only way to make an IRS payment. Now, you have online payment options.
IRS Direct Pay
How it works: You go to the IRS Direct Pay website, verify your identity and bank information, and authorize an ACH debit from your bank account.
Benefits:
- Can be done online.
- Also works for paying estimated taxes, installment agreement payments, and payments for amended returns and tax extensions.
- Can schedule payments up to 365 days in advance.
- Change or cancel a scheduled IRS payment until two days before the payment date.
- Can get email notifications about your payment.
- Can make same-day payments.
The Electronic Federal Tax Payment System (EFTPS)
How it works: You go to the IRS EFTPS website, provide identity and bank information, wait about a week for a PIN to arrive in the mail, set a password, go back online, and authorize an ACH transaction from your bank account.
Benefits:
- Can be done online or via phone 24/7.
- Works for paying all federal taxes, including business taxes.
- Can schedule payments up to a year in advance.
- Can make same-day payments.
- Change or cancel a scheduled IRS payment until two days before the payment date.
- Can get email notifications about your payment.
Original content by clergyfinancial.com. This information is provided with the understanding that Payroll Partners is not rendering legal, human resources, or other professional advice or service. Professional advice on specific issues should be sought from a lawyer, HR consultant or other professional.