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Making Estimated Tax Payments

For those of you who are required to make quarterly estimated tax payments, there are several payment options available.

IRS Payments:

By Check:

Fill out your check using the appropriate amount and attach to completed form 1040-ES for the quarter you are paying.  It is important to use the voucher with the correct date printed in the upper right hand corner.  If you were given pre-filled vouchers by your tax preparer, then use what you were given.  If vouchers were not supplied to you, click this link for a blank copy and instructions where to send your check and completed voucher.

Electronically:

The IRS has electronic payments available to taxpayers.  You can pay your taxes by electronic fund withdrawal, credit or debit card, or a variety of other electronic options.  For a full list of your options, go to the IRS electronic payment options page.  Make sure to note that while using your credit or debit card can be beneficial, a convenience fee will most likely be charged to your card.  You will be asked to approve this fee before paying your taxes and have the option to opt out and use another method of payment.  Setting up an account through the IRS EFTPS system is a secure method of paying your liability without a fee but you will not have the option of paying by credit card.

Minnesota Department of Revenue Payments:

By Check:

To pay your state estimated tax payments by check make your check payable to Minnesota Revenue and mail your check and completed voucher M14 to: Minnesota Revenue, P.O. Box 64037, St. Paul, MN 55164-0037.  Use the prefilled M14 vouchers with the corresponding quarter due (in the upper left hand corner) given by your tax preparer. If you did not receive prefilled vouchers fill out a blank version.

Electronically:

To pay your estimated tax payments electronically login to e-file Minnesota on the e-services menu.  Follow the prompts to set up an account and pay your estimated tax by direct withdrawal.

You may also pay your estimated tax by credit or debit card by going to the Pay MN Tax website.  Remember, fees will be applied if you use your credit or debit card.

Making your estimated tax payments on time and in full is important to avoid penalties. Make sure to plan ahead, and contact your tax preparer with specific questions.

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