Quarterly Taxes due July 15, 2020

Forum|Forum|6 years ago
July 12, 2020
8 replies
36 views

This is my first time filing quarterly taxes for a client. They supplied me with documentation for months Jan 2020 thru July 2020. So which form do I use? And am I using the ProSeries 2019 for ProSeries 2020 which I do not think is out yet?

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T

TaxGuyBill

July 15th? Are you just referring to Estimated Taxes as a prepayment for their 2020 taxes?

Or are you referring to employer taxes?

Or something else?

T

Trish1113Author

Level 2

Sorry for the late response, it is estimated prepayment taxes. All the taxpayer sent me was her spreadsheet of income, expenses for months Jan 2020 to July 11, 2020. Do I need something else from her? And when I go in ProSeries, what form am I looking for to enter her info?

dkh

Level 15

Use the clients 2019 tax return to prepare 2020 estimated tax payments. You can find the Estimated tax worksheet in forms list. You may benefit from reading the IRS instructions https://www.irs.gov/pub/irs-pdf/f1040es.pdf. Taxpayer can be subject to penalties on 2020 return if estimates are required and underpaid.