Janitor Bob Posted January 16, 2008 Report Share Posted January 16, 2008 Client, for various reasons, needs to get their assets, reduced ASAP (for medicare assistance or something)...so they took withdrawal from 401k earlier this month (received check 2008) and want to make an estimated payment to IRS as soon as possible...I know the first estimate would not be due until April 2008...and the last not due until January 2009.....but client wants to pay it all right away. Do you think there will be any problem with this? The current year 1040ES is not yet available in ATX, so I had to go back to 2006, unprotect the 1040ES and change the date references. They did the same thing last year for a 401k that they withdrew in October 2007....I just sent in that 1040ES for this filing year that was due 01/15/08. Man...I hate it when clients get tax advice from their attorneys! Quote Link to comment Share on other sites More sharing options...
MAMalody Posted January 16, 2008 Report Share Posted January 16, 2008 There shouldn't be a problem. Make sure he annotates the check properly in the memo section. Then pull a transcript after it has cleared his bank to make sure it posted properly. A little extra work but should be no problem. A few years ago I had a client that made a deposit every week for ES taxes and no problems. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted January 17, 2008 Report Share Posted January 17, 2008 Or you could have gone to IRS and get the form: http://www.irs.gov/pub/irs-pdf/f1040es.pdf taxbilly Quote Link to comment Share on other sites More sharing options...
michaelmars Posted January 17, 2008 Report Share Posted January 17, 2008 next time just have the taxes withheld from the 401k distribution. Quote Link to comment Share on other sites More sharing options...
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