There are five methods you can use to make estimated tax payments to the Internal Revenue Service.
Electronic Federal Tax Payment System (EFTPS)
Paying by EFTPS is a fast and free way to make your estimated payments. Using EFTPS, you can input tax information over the phone and schedule payments up to 365 days in advance. EFTPS is the preferred method of making payments to the IRS. For more information on EFTPS, see http://www.eftps.gov.
Credit an Overpayment
If you have an overpayment of tax after completing your income tax return, you can apply all or part of the overpayment to estimated taxes for the current year. When applying an overpayment, the funds will be applied to payments in the order that avoids penalty for underpayment of estimated tax. If you choose to apply an overpayment to current year estimated tax, you cannot use the funds for any other reason. If all funds are not necessary to make estimated tax payments, the remainder will be refunded to you at the close of the year.
Check or Money Order
If you pay by check or money order, each payment must be accompanied by Form 1040-ES. After making the first quarter's estimated payment, or if you made estimated tax payments in the prior year, you will receive pre-printed Form 1040-ES's. Using the pre-printed forms when you make a payment will expedite the processing of your payments.
Electronic Funds Withdrawal
If you electronically file your tax return, you can schedule up to four estimated payments by electronic withdrawal. The funds can be withdrawn from a checking or savings account. In order to electronically file your return, the return must be prepared using a tax preparation program such as 1040.com Online Tax Preparation.
Pay by Credit or Debit Card
Tax payments and estimated tax payments can also be made using your American Express® Card, Discover® Card, MasterCard® card, Visa® card or debit card. A convenience fee will be charged each time you use a credit card to make a payment. See www.1040paytax.com.