How long does it take for Estimated Tax payment check to clear

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wrongfunds
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How long does it take for Estimated Tax payment check to clear

Post by wrongfunds »

I sent Q4 payment on Dec 29th. As of today, the check has not been cashed by IRS. I do this almost every year and usually a week had been sufficient. I had created the payment voucher from the Turbotax, so no manual fields to screw up. I even used address window envelop with postage stamp to send it!

Should I be worried that mail could have got lost?
megabad
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Re: How long does it take for Estimated Tax payment check to clear

Post by megabad »

Usually within 1-2 days of receipt in my experience. Around xmas, USPS was running about 2 weeks slow on letters in my area but I think they should be back to normal by now.
Mitchell777
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Re: How long does it take for Estimated Tax payment check to clear

Post by Mitchell777 »

I mailed mine on Dec 9th. The state check cleared on Dec 15. The IRS check still has not cleared. I know they say they are behind but I am concerned the check is lost. I tried calling them but rec'd a message telling me to call another number. The other number gave a message to call the exact same number I called that second time.
IMhooked
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Re: How long does it take for Estimated Tax payment check to clear

Post by IMhooked »

Just mailed out my Q4 on Monday. I will show concern on the 15th if necessary. I figure 2 weeks would do it. Hope it will clear for you soon. Were you required to mail State Q4 as well? If so, did that one clear yet?
prd1982
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Re: How long does it take for Estimated Tax payment check to clear

Post by prd1982 »

It has been in the papers and this forum that the USPS and IRS are having problems processing the mail in a timely manner. So why didn't you pay online? Its like you are looking for something to worry about. In this age of COVID and a economy in trouble, I would have thought everyone had enough to worry about.
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wrongfunds
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Re: How long does it take for Estimated Tax payment check to clear

Post by wrongfunds »

IMhooked wrote: Thu Jan 07, 2021 2:16 pm Just mailed out my Q4 on Monday. I will show concern on the 15th if necessary. I figure 2 weeks would do it. Hope it will clear for you soon. Were you required to mail State Q4 as well? If so, did that one clear yet?
For the state, I just jack up the W4 deduction from my last two paycheck instead of sending them a check.
Topic Author
wrongfunds
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Re: How long does it take for Estimated Tax payment check to clear

Post by wrongfunds »

prd1982 wrote: Thu Jan 07, 2021 2:33 pm It has been in the papers and this forum that the USPS and IRS are having problems processing the mail in a timely manner. So why didn't you pay online? Its like you are looking for something to worry about. In this age of COVID and a economy in trouble, I would have thought everyone had enough to worry about.
Even though IRS already has my bank information on the file, for some reason I found the online IRS payment website somewhat scary and had second thoughts about giving IRS access to my account (completely illogical! I know)
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Stinky
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Re: How long does it take for Estimated Tax payment check to clear

Post by Stinky »

wrongfunds wrote: Thu Jan 07, 2021 2:57 pm
prd1982 wrote: Thu Jan 07, 2021 2:33 pm It has been in the papers and this forum that the USPS and IRS are having problems processing the mail in a timely manner. So why didn't you pay online? Its like you are looking for something to worry about. In this age of COVID and a economy in trouble, I would have thought everyone had enough to worry about.
Even though IRS already has my bank information on the file, for some reason I found the online IRS payment website somewhat scary and had second thoughts about giving IRS access to my account (completely illogical! I know)
I trust the IRS payment website more than I trust the USPS these days.

So I use the payment website, and will probably never go back to mailed checks.
It's a GREAT day to be alive! - Travis Tritt
TSC15
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Re: How long does it take for Estimated Tax payment check to clear

Post by TSC15 »

The 4Q tax payment does not need to be made until Jan 15th. Just like the 1040 tax payment, if you pay by check, it just needs to be post-stamped on Jan 15th and it is considered paid on time.

BTW, the IRS' quarterly periods are different from financial institutes' reporting quarters: 2nd quarter only has two months (April & May) and 4th quarter is Sept to Dec, which for me has the highest estimated tax payment because of Roth conversion and taxable account dividends/capital gains in December.
tibbitts
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Re: How long does it take for Estimated Tax payment check to clear

Post by tibbitts »

I'm hoping that safe harbor will eliminate the need for my q4 payment, but can't imagine sending a paper check these days.
IMhooked
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Re: How long does it take for Estimated Tax payment check to clear

Post by IMhooked »

wrongfunds wrote: Thu Jan 07, 2021 2:55 pm
IMhooked wrote: Thu Jan 07, 2021 2:16 pm Just mailed out my Q4 on Monday. I will show concern on the 15th if necessary. I figure 2 weeks would do it. Hope it will clear for you soon. Were you required to mail State Q4 as well? If so, did that one clear yet?
For the state, I just jack up the W4 deduction from my last two paycheck instead of sending them a check.
Did your check clear? Mine did this morning so it took last week for my federal payment to process. Just wanted to provide you the followup. Hoping yours did as well.
GettingCloser
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Re: How long does it take for Estimated Tax payment check to clear

Post by GettingCloser »

Fwiw: mailed ours 12/28, check cleared 1/6
Naismith
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Re: How long does it take for Estimated Tax payment check to clear

Post by Naismith »

Stinky wrote: Thu Jan 07, 2021 3:09 pm
I trust the IRS payment website more than I trust the USPS these days.
Amen! I can't believe how long things are taking with USPS, and how many things are being lost.
dukeblue219
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Re: How long does it take for Estimated Tax payment check to clear

Post by dukeblue219 »

I trust the IRS website with my encrypted bank account information, and the transaction is processed same day or next day.

I do not trust the USPS and any number of other parties who might touch a paper check that contains my printed out bank account information and signature, and a 1040-ES voucher that contains my name, address, social and spouse's social. Waiting weeks for the check to clear is another matter.

It's that simple.
diy60
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Re: How long does it take for Estimated Tax payment check to clear

Post by diy60 »

Stinky wrote: Thu Jan 07, 2021 3:09 pm I trust the IRS payment website more than I trust the USPS these days.

So I use the payment website, and will probably never go back to mailed checks.
Exactly. I submitted my 4Q payment yesterday morning via IRS Direct Pay and it posted from my checking by 3pm.

2 weeks ago I found some of my mail in the street gutter. Yesterday I received a credit card bill in the mail with a due date for today.

What is really scary is I need to do some partial distributions from my 401K and those only come by way of check in the mail.
Last edited by diy60 on Tue Jan 12, 2021 11:35 am, edited 1 time in total.
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eye.surgeon
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Re: How long does it take for Estimated Tax payment check to clear

Post by eye.surgeon »

wrongfunds wrote: Thu Jan 07, 2021 1:55 pm I sent Q4 payment on Dec 29th. As of today, the check has not been cashed by IRS. I do this almost every year and usually a week had been sufficient. I had created the payment voucher from the Turbotax, so no manual fields to screw up. I even used address window envelop with postage stamp to send it!

Should I be worried that mail could have got lost?
Why are people mailing checks for estimated payments? Both state and federal estimated taxes are easily paid online and they process rapidly, in my case most recently the next day.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett
Katietsu
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Re: How long does it take for Estimated Tax payment check to clear

Post by Katietsu »

I would be more surprised if it had already cleared.
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Stinky
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Re: How long does it take for Estimated Tax payment check to clear

Post by Stinky »

diy60 wrote: Tue Jan 12, 2021 11:33 am What is really scary is I need to do some partial distributions from my 401K and those only come by way of check in the mail.
Several years ago when I was taking partial distributions from my 401k, Fidelity (my 401k custodian) offered to use overnight delivery service. I think the added cost was $25.

I was too cheap to use overnight delivery at that time, and the mail worked fine. But if I were doing it today, I would opt for overnight service and stay away from USPS.
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Topic Author
wrongfunds
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Re: How long does it take for Estimated Tax payment check to clear

Post by wrongfunds »

Just to provide closure, the check got cleared by the bank today; exactly two weeks since I mailed it. Next time, I am doing it electronically via DirectPay; too much tension for the 2nd week!
scrabbler1
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Re: How long does it take for Estimated Tax payment check to clear

Post by scrabbler1 »

I mail my tax returns in but have been using electronic payment for estimated tax payments (federal and state) for at least the last 5 years. The only data on an estimated tax form is personal ID info (name, SSN, address, etc.), banking info, and amount. To me, paying it that way is not any different from paying any bill electronically.

The USPS has been awful the last few weeks. Bills which usually arrived a week or so after the billing closing dates have been taking 2-3 weeks to arrive. Most of those monthly bills I pay automatically via ACH so it doesn't matter, other than a reduced time for reviewing them. One that I don't pay automatically I can view on line anyway.
Carol88888
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Re: How long does it take for Estimated Tax payment check to clear

Post by Carol88888 »

I don't know but as of today my IRS check hasn't gone through yet. It was mailed Jan 3. A check to NY State income tax mailed the same day cleared.
BoxOfUpticks
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Re: How long does it take for Estimated Tax payment check to clear

Post by BoxOfUpticks »

For those deriding others for not paying electronically, not all electronic payments may be made without reliance on the USPS.

For example, in order for me to pay electronically in my state, i need to register with the state's site and they'll send an identification number via USPS. I'm still wating for the silly letter. In the meantime, i mailed an estimated tax payment via Priority Mail, with tracking. The USPS thoughtfully decided to route it from PA to MO to KS, where it spends its time visiting various facilities, but has yet to change direction back to PA.
There are 10 kinds of people in the world: those that understand binary, and those that don't.
theplayer11
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Re: How long does it take for Estimated Tax payment check to clear

Post by theplayer11 »

I'm surprised so many are still sending in paper checks. IRS has direct pay or the EFTPS system to pay. No need to worry if payment is received or lost in the mail.
Nowizard
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Re: How long does it take for Estimated Tax payment check to clear

Post by Nowizard »

About a week for us.

Tim
BoxOfUpticks
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Re: How long does it take for Estimated Tax payment check to clear

Post by BoxOfUpticks »

theplayer11 wrote: Wed Jan 13, 2021 8:47 am I'm surprised so many are still sending in paper checks. IRS has direct pay or the EFTPS system to pay. No need to worry if payment is received or lost in the mail.
It’s been over 2 months to get my pin from eftps, via USPS, and they won’t send via FedEx until next week.

My state requires USPS confirmation, on which I’m still waiting.

Electronic is good IF it was set up pre-pandemic
There are 10 kinds of people in the world: those that understand binary, and those that don't.
Broken Man 1999
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Re: How long does it take for Estimated Tax payment check to clear

Post by Broken Man 1999 »

I have just been sending our taxes thru Vanguard periodically when we have done a TIRA distribution. Works great. My last little bit will be paid via credit card.

Not interested in snail mail for anything important or that must be received by a certain date.

Besides, I save a stamp, I don't have to write a check, and I get a tiny bit of credit card rewards.

Broken Man 1999
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