Estimated Tax Payments

1.1 IRS Procedures: General Procedural Questions

I'm concerned because my check for payment to the IRS has not been cashed yet. What should I do?

If it has been at least two weeks since the payment was sent, you can call (800) 829-1040 and ask an IRS representative if the payment has been credited to your account. If it has not and the check has not cleared your financial institution, you may choose to place a stop-payment on the original check and send another payment.

9.1 Estimated Tax: Businesses

Is an S-Corporation required to pay quarterly estimated tax?

Generally, the corporation must make estimated tax payments for the following taxes if the total of these taxes is more than an amount specified by law:

• the tax on certain capital gains,
• the tax on built-in gains,
• the excess net passive income tax, and
• the investment credit recapture tax.

9.2 Estimated Tax: Farmers & Fishermen

Most of my income is from farming. Are there any special provisions related to estimated tax payments for farmers?

If you have income from farming, you may be able to avoid making estimated tax payments by filing your return and paying the entire tax due on or before March 1 of the year your return is due. If March 1 falls on a weekend or legal holiday, you have until the next business day to file and pay tax. This estimated tax rule generally applies if at least 2/3 of your total gross income is from farming this year or previous year.