[RoboVil]

Originally Posted by retiredguy123

It sounds like you are taking your RMD throughout the year. I always take mine as a lump sum in December. That way, the IRA income is deferred for a longer time each year.

Me too, though I sure wish I had taken my money out at the first of this year. The last month has been brutal.

[nantasket]

Originally Posted by Dotneko

I used the online system last year for my estimated payments. I was able to set up all quarterly payments in advance and it was deducted at the appropriate time. I tend to forget when the quarter is, so it was one less thing to think about.

As mentioned you can easily pay online via IRS Portal Your account | Internal Revenue Service

Alternatively you can have your taxes taken out of your withdrawals from your IRA/SEP/401k by the investment company where your retirement funds are managed.

And something that may not have been mentioned already is to have tax deducted from your Social Security distribution via The United States Social Security Administration | SSA Social Security

[merrymini]

My accountant has the government take it out on the appropriate day, so easy. I have been using autopay for years with no problems, ever.

[scubawva]

I’ve been paying estimated taxes for 25 years electronically. Mailing hasn’t been required for decades.

[C. C. Rider]

If a person has regular, consistent income year-after-year, then it should be easy, IMO, to set up the deductions to take care of that situation without having to file quarterly.

However, if a person has irregular income year-after-year, then there's no way of knowing exactly how much to pay on a quarterly basis or whether to pay anything extra at all.

This is why I don't schedule any "automatic" payments every quarter because I might be paying taxes when no taxes are due. I simply wait until I see how my investments are doing and go from there.

If my investments are producing (taxable) income, then I send in a quarterly payment (approximately) when it's due. I use the EFTPS system for making IRS payments. It's very simple and easy to use once you have it set up.

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