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    Estimated Taxes and Extension

    When practitioners file an extension for a client, the tax preparation software typically cannot be used to set up debits for estimated tax payments for the current tax year until the actual return is filed for the client.

    If a client needs to make estimated tax payments for the second quarter of 2022, and the client’s tax return will not be finalized before the June 15, 2022 due date for the second quarter estimated tax payment, the practitioner can use other methods to schedule a debit to make this second quarter payment.  (By scheduling a debit, the practitioner eliminates the need to send a paper voucher to the client that would need to be paid by check or to ask the client to schedule their own debit by using a federal and/or New York taxpayer account.)

    For federal purposes, estimated tax debits can be scheduled using: https://www.irs.gov/payments/direct-pay.  For New York purposes, the practitioners must obtain a signed Form TR-2000, E-ZRep Tax Information and Transaction Authorization Form and then the practitioner can use his or her own online services account to schedule a debit for the client at https://www.tax.ny.gov/.

    The information provided herein is provided with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional service. As such, M + O = CPE, Inc. and the author disclaim any responsibility or liability for the information supplied herein or the application of said information.