Frequently Asked Tax Questions And Answers
Keyword: 1040-ES
1.1 IRS Procedures: General Procedural Questions
I'm concerned because my check payment to the IRS has not been cashed
yet. What should I do?
You can call (800) 829-1040 and ask an IRS representative if the payment
has been credited to your account. If it has not and the check has not cleared
your financial institution, you may choose to place a stop-payment on the
original check and send another payment.
9.3 Estimated Tax: Individuals
I'm concerned because my check payment to the IRS has not been cashed yet.
What should I do?
You may call 1-800-829-1040 and ask an IRS representative if the payment has been
credited to your account. If it has not, you may choose to place a stop-payment on
the original check and reissue the payment.
I filed a quarterly 1040-ES in April and paid the difference between my
total tax bill last year and this year's withholdings. Therefore, I believe I have
paid the minimum amount of estimated tax payments. Do I have to submit a Form 1040-ES
for the, second, third, and fourth quarters?
Since you have paid 100%* of your prior year income tax liability, you will not
be subject to the failure to pay estimated tax penalty. However, not making additional
estimated tax payments may mean that you have a large income tax liability when you
do file your income tax return.
*Substitute 110% for 100% if:
1. Your AGI exceed $150,000 on the prior year return and your filing status for
the prior year is anything other than MFS or
2. You filed MFS for the prior year and AGI exceeded $75,000.
References:
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