2022 ESTIMATED TAX PAYMENTS

This task is easy to forget.  Make it a habit, put it on the calendar, and know that you will probably hear from me nagging you about this.  It’s nice to get to the end of the year and not have to deal with owing a large sum at that time so let’s make shit easier for ourselves later why don’t we?

These are the facts and what you need to know to make it happen.  If you have questions or special circumstances by all means, let’s talk it out before you give them any money.

Please remember this is a personal payment of estimate taxes, not a business payment (unless you have an S-Corp).  If you are in a partnership, you are figuring your part of the income from that partnership.

Payment	When Income Earned in 2022	Due Date
3rd Payment	June 1 to August 31	September 15, 2022
4th Payment	September 1 to December 31	January 17, 2023

General Rule

You expect to owe at least $1,000 in tax for 2022, after subtracting your withholding and refundable credits. 

You expect your withholding and refundable credits to be less than the smaller of: 

90% of the tax to be shown on your 2022 tax return, or 

100% of the tax shown on your 2021 tax return. Your 2021 tax return must cover all 12 months. 

2022 Standard Deduction Amounts

Filling Status	2022 Standard Deduction
Single; Married, Separately	$12,950
Married Filing Jointly, Surviving Spouse	$25,900
Head of Household	$19,400

How To Pay Estimated Tax  

Pay Online 

IRS offers an electronic payment option that is right for you. Paying online is convenient and secure and helps make sure we get your payments on time. To pay your taxes online or for more information, go to IRS.gov/ Payments. You can pay using any of the following methods.

 

IRS Direct Pay. For online transfers directly from your checking or savings account at no cost to you, go to IRS.gov/Payments.

 

Pay by Card. To pay by debit or credit card, go to IRS.gov/Payments. A convenience fee is charged by these service providers.

 

Electronic Fund Withdrawal (EFW) is an integrated e-file/e-pay option offered when filing your federal taxes electronically using tax preparation software, through a tax professional, or the IRS at IRS.gov/Payments.

 

Online Payment Agreement. If you can’t pay in full by the due date of your tax return, you can apply for an online monthly installment agreement at IRS.gov/Payments. Once you complete the online process, you will receive immediate notification of whether your agreement has been approved. A user fee is charged.

 

IRS2Go is the mobile application of the IRS; you can access Direct Pay or Pay By Card by downloading the application.

 

 

Pay by Check or Money Order Using the Estimated Tax Payment Voucher

Before submitting a payment through the mail using the estimated tax payment voucher, please consider alternative methods. One of our safe, quick, and easy electronic payment options might be right for you.

If you choose to mail in your payment, there is a separate estimated tax payment voucher for each due

PLEASE NOTE:  No checks of $100 million or more accepted by the IRS. 

Toddles,

Sarah