projected estimated tax payment

[tfoti]

can anyone shed some light on how the projected estimated tax payments are calculated in the tax advisor estimated tax payment plan program.  I'm getting some wild numbers that make no sense

[strongsilence]

I'm learning this product too.  Supplying some examples or actual numbers would help becuase your question is vague.

[strongsilence]

Also, you could attach a snip of the problems to provide more detail. I use the standard Snipping tool from Msft

@tfoti 

[tfoti]

Hi, thank you for taking an interest in my question. I will provide an example in a separate post but first I have spent so many hours on the phone with support over this and no one could explain why I'm getting incorrect numbers in the summary client report.  Today I was told that you cannot use the estimated tax payment plan program unless you first enter the changes in the Tax Plan program.  But that would mean you have to enter them in both and doesn't sound right to me.  There are clients that I just want to tweak their estimates based on 2024 return numbers and don't want to do a tax plan for.  I thought the two programs stood alone.  What is your understanding of it?

[tfoti]

the snipping tool would not let me paste my snip into this post. I even copied it to a word document and a pdf first and that didn't work either.

The client report does not do the math correctly.  I think it is pulling from a wrong line in the adjustments report because the view summary (upper left corner) shows the correct figures (but you can't print this) and the full blown adjustments report that you are able to print arrives at the correct answer but the report that is supposed to pull it all together and be able to send to a client does not.

so frustrated!

[tfoti]

 I feel like the progam is incorrectly pulling from the line titled:

"Remaining/Overpaid tax payment" (which I cannot even figure out how this is calculated)

Versus :

"Federal Balance Due or Refund" which would be the correct line

[tfoti]

I was told by customer support that you needed to do a full blown TAX PLAN before you could use the estimated tax payment program in the Tax Advisor program.  My understanding is that estimated tax payment plan could be used independently from the tax plan program.  Could anyone advise on this?

[strongsilence]

I didn't see your replies until now Mr. Tfoti. Based on the lack of replies it doesn't seem like anyone uses ITA. 

 do a full blown TAX PLAN before you could use the estimated tax payment program in the Tax Advisor program.

I don't think this is correct.  I have used the Estimated Tax Plan in ITA without using the full TAX PLAN. There is nothing that I found in the Intuit guidance such as "Getting Started" that resolves your dilemma.

@tfoti 

[IRonMaN]

"I don't think this is correct."

Evidently nobody in support uses the product either 😬

[strongsilence]

ouch! you are correct. When I called support earlier today, she admitted that they don't expect calls about ITA so they aren't trained.

[tfoti]

We need to keep asking for the support we deserve.  The "concept" is awesome, but we must be able to reasonable execute with ease and TRUST the results. Both of which are not consistently true.  If we had support, we could collectively take it to that level.

[strongsilence]

ease and TRUST the results

Well said.  

I largely agree. However, I feel like we are the beta testers. I feel like we are the ones pointing out the mistakes to them and doing their work.  Thanks for the reply.

[tfoti]

We are DEFINITELY the beta testers, and I see why they would choose to do that.  They can put an undercooked product out there faster. Unfortunately for us the preparer, it results in us looking like idiots to our clients because we relied on something that we should not have or correcting it comes out of our financial and mental pockets.   We need better resources in this area.

Reach out with issues and maybe we can solve it together.

[Accountant-Man]

What's wrong with the Tax Planner? As long as you change the Year and then enter any new numbers for 2025 it even calculates the Old Person Deduction for 2025 and the increased Standard Deductions.

ps I never heard of ITA before this post.

[BobKamman]

@Accountant-Man "I never heard of ITA before this post"

I just read how they're starting to fly from Rome to Houston.

https://onemileatatime.com/news/ita-airways-houston-flights/