When to pay your Q4 estimated tax payment

It’s usually best to pay your fourth current year estimated quarterly tax payment before the end of the tax year.  These are usually due by mid-January of the subsequent year (Q4 2016 payment due by 1/15/2017).  It’s best to pay this before the end of the calendar year (2016 in this example) so that the tax agency doesn’t misapply it to the following tax year (2017 in this example).  Paying it late (after the mid-January due date or having the tax agency misapply it to the following tax year because they received it late) will mean you may, in fact, owe taxes for the current tax year (2016 in this example) after the taxing agency processes your 2016 tax return.  This happens from time to time, so make all your estimated tax payments within the same calendar year (before December 31st, 2016, in this example) and you should be fine.  As always, annotate the check as to the tax year for which the estimated payment is for.

When to pay your Q4 estimated tax payment

It’s usually best to pay your fourth current year estimated quarterly tax payment before the end of the tax year.  These are usually due by mid-January of the subsequent year (Q4 2016 payment due by 1/15/2017).  It’s best to pay this before the end of the calendar year (2016 in this example) so that the tax agency doesn’t misapply it to the following tax year (2017 in this example).  Paying it late (after the mid-January due date or having the tax agency misapply it to the following tax year because they received it late) will mean you may, in fact, owe taxes for the current tax year (2016 in this example) after the taxing agency processes your 2016 tax return.  This happens from time to time, so make all your estimated tax payments within the same calendar year (before December 31st, 2016, in this example) and you should be fine.  As always, annotate the check as to the tax year for which the estimated payment is for.

Leave a Reply

Your email address will not be published. Required fields are marked *