Estimated state taxes – payment method

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BlackStrat
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Estimated state taxes – payment method

Post by BlackStrat »

With all of the recent discussions about mailing a check (and the fraud associated with it), I’m starting to rethink my current method of mailing my quarterly estimated tax check (along with the Quicken coupon) to my state comptroller.
I would electronically send a payment, but I’m afraid it will get lost in the shuffle and I’m unsure if there’s a verification method from the state (I currently receive no verification when I mail a check)
What method do you recommend for both payment of estimated taxes and verification of the receipt from your state?
jebmke
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Re: Estimated state taxes – payment method

Post by jebmke »

I use the EFTPS system for Federal. Been using it for over a decade and they have never missed a transfer date. My state has an ACH system that works fine.
When you discover that you are riding a dead horse, the best strategy is to dismount.
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22twain
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Re: Estimated state taxes – payment method

Post by 22twain »

BlackStrat wrote: Thu Sep 22, 2022 8:29 am I’m unsure if there’s a verification method from the state
Which state?
It's "IRMAA" (Income Related Monthly Adjustment Amount), not "IIRMA" or "IRRMA" or "IRMMA".
Wrench
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Re: Estimated state taxes – payment method

Post by Wrench »

Varies state by state. My state allows online filing and payment by credit card without fee. That's what I do. But, filing by paper should be fine as long as you mail it certified return receipt. That way you can prove mailing date and receipt by the state.

Wrench
mw1739
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Re: Estimated state taxes – payment method

Post by mw1739 »

My state's system is similar to EFTPS. I schedule all 4 quarterly payments, receive an email about a week out reminding me of the upcoming payment and a payment confirmation email the day the payment is pulled out of my bank account.
BogleTaxPro
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Re: Estimated state taxes – payment method

Post by BogleTaxPro »

BlackStrat wrote: Thu Sep 22, 2022 8:29 am With all of the recent discussions about mailing a check (and the fraud associated with it), I’m starting to rethink my current method of mailing my quarterly estimated tax check (along with the Quicken coupon) to my state comptroller.
I would electronically send a payment, but I’m afraid it will get lost in the shuffle and I’m unsure if there’s a verification method from the state (I currently receive no verification when I mail a check)
What method do you recommend for both payment of estimated taxes and verification of the receipt from your state?
It's more likely to 'get lost in the shuffle' if you mail it. :wink:
I use my state's website to do an e-check directly from my checking account. I print the screen to a PDF, and they also email me a receipt, and it's also shown on my bank statement as a payment to the state.
jebmke
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Location: Delmarva Peninsula

Re: Estimated state taxes – payment method

Post by jebmke »

mw1739 wrote: Thu Sep 22, 2022 8:59 am My state's system is similar to EFTPS. I schedule all 4 quarterly payments, receive an email about a week out reminding me of the upcoming payment and a payment confirmation email the day the payment is pulled out of my bank account.
Same; I get a text from my bank when the debit is made.
When you discover that you are riding a dead horse, the best strategy is to dismount.
Topic Author
BlackStrat
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Re: Estimated state taxes – payment method

Post by BlackStrat »

I’m in Maryland so I’ll check to see they have something similar.

Thanks for all the replies.
UNCHEEL
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Re: Estimated state taxes – payment method

Post by UNCHEEL »

I paid Federal estimated taxes by direct debit, and state by credit card. My state charges 2% for using a credit card, but I get the 2% back from the credit card. Technically, the credit card pays 2% on the states fee, so I actually come out a few bucks ahead and get another 6 weeks of float.
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dual
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Re: Estimated state taxes – payment method

Post by dual »

I pay with my Bank of America alternate cash rewards credit card. I got premier status by depositing an ETF in Merrill edge so I receive a 2.625% rebate. That’s a little more than the charge here in California so I make a few bucks. But the main thing is I get an immediate confirmation number of the payment.
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joe8d
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Re: Estimated state taxes – payment method

Post by joe8d »

jebmke wrote: Thu Sep 22, 2022 8:31 am I use the EFTPS system for Federal. Been using it for over a decade and they have never missed a transfer date. My state has an ACH system that works fine.
The same here.Check your State for that option.
All the Best, | Joe
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