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Advance tax paymnet for long term capital gain

Level 3

Hi,

One of my client wants to pay Advance Tax payment for a long term capital gain of around 200K.  How can he do that??Please Advise

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Level 15

Make a 4th quarter ES-tax payment, preferably, electronically.  But what's the hurry if your client already has F.2210 penalty covered and will settle the balance due by Tax Day?  Most would rather keep their money (and get better return) than sending it to Uncle Sam.

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Still an AllStar

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5 Replies 5
Level 9

My understanding of your question is your client needs to make an estimated tax payment for the 2020 tax return tax liability.   Use IRS Direct Pay.    https://directpay.irs.gov/directpay/payment?execution=e1s1

 

Level 3

Thank u

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Level 15

NP, @gk!

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Still an AllStar
0 Cheers
Level 15

Make a 4th quarter ES-tax payment, preferably, electronically.  But what's the hurry if your client already has F.2210 penalty covered and will settle the balance due by Tax Day?  Most would rather keep their money (and get better return) than sending it to Uncle Sam.

---------------------------------------------------------------------------------
Still an AllStar

View solution in original post

Level 3

Thank u...

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