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Posted: 1/24/2015 1:01:55 PM EDT
i pay quarterly as im self employed
due to my newborn robbing me of sleep, my eyes played a trick on me and i sent 3730 instead of  3370
do i need to inform them of this over payment or just inform my accountant and he will deduct that from my next payment?
Link Posted: 1/24/2015 4:20:57 PM EDT
[#1]
This was federal income for 2014 Q4?  If you ended up overpaying you should just get a tax refund.
Link Posted: 1/24/2015 7:08:07 PM EDT
[#2]
No big deal. I overpaid by like 15k for 2013 and my accountant just had it credited to my 2014 quarterlies.

It is very unlikely your estimated payments would be exactly what your taxes are anyway so you likely would owe some or get a refund when you do your return anyway.
Link Posted: 1/26/2015 1:23:20 PM EDT
[#3]
your quarterly payments are just an estimate anyway.  better to overpay than underpay.  from the timing it must be for 2014.  you are going to be doing your "tax return" soon anyway, which reconciles the entire year and if you really did overpay you'll just get a refund.
Link Posted: 1/26/2015 9:05:32 PM EDT
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
No big deal. I overpaid by like 15k for 2013 and my accountant just had it credited to my 2014 quarterlies.

It is very unlikely your estimated payments would be exactly what your taxes are anyway so you likely would owe some or get a refund when you do your return anyway.
View Quote


I did this as well
Link Posted: 1/29/2015 9:00:15 PM EDT
[#5]
When you report the actual quarterlies paid they will adjust the rest of return to calculate the new balance
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