Estimated Taxes

[Weird Tolkienish Figure]

Hello,

Wife and I had to file separately for last year (FY 2014), and because she underpaid by over $1000 last year, she had to pay estimated taxes this year.

However, so that we will not have to pay estimated taxes, we also withheld more out of her paycheck, enough that we shouldn't owe nearly as much, and thus avoid needing to pay the estimated tax next year.

My question is, we have now (I believe) overpaid our total taxes this year by quite a bit, how does the government "know" that we paid those estimated taxes? How will we figure that in when we go to file a return this year?

[Nutria]

she had to pay estimated taxes this year.

On a 1040-ES?

how does the government "know" that we paid those estimated taxes?

It's basic accounting practice to track all incoming money. The IRS is very good at that.

How will we figure that in when we go to file a return this year?

Line 65 of the 1040: 2015 Estimated Tax Payments

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

(I found it by Googling "irs 1040 prepaid taxes".)

[Weird Tolkienish Figure]

Accountant just told us to go onto the IRS website and pay the estimated tax? No form needed AFAIK.

[Nutria]

Accountant just told us to go onto the IRS website and pay the estimated tax?

So the accountant knows what to do. (I still think it goes on Line 65...)

But honestly: do you really think that the IRS is going to forget that you gave them some money?

And if by some wild chance they did, you still have your information showing that you sent the money. You call your Congressman and complain. (They're really good at stuff like this.)

[Drake3287]

When I retired a year or so ago I voluntary decided to go with paying estimated taxes vs having my retirement system take out taxes. After the first 2 quarters of paying the estimated taxes I found it a pain in the as* and simply went back to having it automatically taken out.

When I did my 2014 taxes last year I simply declared what I had already paid in estimated taxes along with what was withheld by my retirement system. I simply saved my copy of the estimated taxes paid coupon in case it ever gets questioned.

Assuming my 2015 taxes have no surprise, having it taken out automatically is certainly easier.

[Petunia 100]

You can register on irs.gov and view their records of your tax payments for the year in question.