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Weekend tax task: File your third quarter estimated tax payment

Here's a question for my fellow estimated tax payers: Have you sent in your third 1040-ES voucher yet?

If not, don't panic. You've got a couple of extra days.

Sept. 15 is on Saturday, so your estimated tax payment isn't due until Monday, Sept. 17.

I've spent my share of weekends over the years taking care of tax tasks. Not so this year. As you can see by my redacted receipt below from the Electronic Federal Tax Payment System (EFTPS), I've scheduled our payment.

EFTPS payment receipt Click for a larger view.

If, however, you've yet to file your 1040-ES, you might have to spend part of Saturday or Sunday calculating, especially if you use the annualized income installment payment method to account for earnings fluctuations throughout the year.

That option, as well as the four equal payments option the Internal Revenue Service prefers, is covered in my post on figuring your estimated tax amount.

And so you don't get caught off guard on future estimated tax payments, here's the calendar the IRS uses for 1040-ES collection purposes:

Payment # Due Date For income received in
1 April 15 Jan. 1 through March 31
2 June 15 April 1 through May 31
3 Sept. 15 June 1 through Aug. 31
4 Jan. 15
(of the next year)
Sept. 1 through Dec. 31

As noted earlier, the estimated deadlines follow the same IRS rules when it comes to a due date on a Saturday, Sunday or legal holiday; that is, you have until the next business day to make the payment.

The timely filed rule for your main 1040 also applies to 1040-ES vouchers. As long as the envelope with the payment is postmarked by the due date, the IRS considers it filed on time.

Here's hoping your estimated taxes are not an issue for you and that you get to enjoy most if not all of your coming weekend!

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