I noticed that for some clients (in client letter), their 1st and 2nd federal estimated tax payments are lump in one amount in client letter. but, others have separate amounts and both due 7/15/2020.
for example, one client show: due date 7/15/20, federal $2,000 / 7/15/20, federal $2,000 / 9/15/20, federal $2,000 / 1/15/21, federal $2,000.
Others: due date 7/15/20, federal $4,000 / 7/15/20, federal $0 / 9/15/20, federal $2,000 / 1/15/21, federal $2,000
Does anyone know why?
Solved! Go to Solution.
There was a post a few weeks ago by Intuit that explained the system will only pull 1 payment on a certain date, so the ones that have the 2 separate payments scheduled on July15th, only 1 payment will get withdrawn....
So they advise to double up the 1st ES and skip the 2nd so that essentially both payments would pull on July 15th.