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How do I enter a Prepayment made AFTER January 15, 2024 for 2023 taxes?

anthony

If I prepay my taxes using payment processor payUSAtax AFTER January 15 and I still haven't completed my 2023 tax return, how would I enter the payment in FreeTaxUSA during filing? I've never done a prepayment before and I'm new to FreeTaxUSA. Thanks!

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Henry

https://community.freetaxusa.com/discussion/comment/1784#Comment_1784

Either one is fine. If you choose to designate the payment as an estimated tax payment, then you can account for that in our software by selecting Misc > Payments > 2023 Estimated Tax Payments from the menu. There is a field provided there to enter estimated payments made after January 16, 2024.

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KristineS

Hi Anthony,

Unless you indicated your pre-payment as an estimated tax payment when you made it, there is not a place to indicate this in our software.

When you file your tax return with the balance due, and it is accepted and processed, the IRS will use the credit in your account (the pre-payment you made) and apply that to the balance due. It happens automatically.

anthony

If I still want to make another prepayment before filing, what payment category would I select? "Form 1040 Current Tax Return 2023" or "1040 E-S - Estimated Tax"

Henry

https://community.freetaxusa.com/discussion/comment/1784#Comment_1784

anthony

https://community.freetaxusa.com/discussion/comment/1824#Comment_1824

I chose to designate the payment as "Form 1040 Current Tax Return 2023" using a credit card. I made a large overpayment that is more than enough to cover my actual taxes owed. What steps do I need to take to get the overpayment refunded by the IRS? I made the overpayment on April 6.

MatthewD

Hello Anthony,

That would be an estimated payment. Please make sure you go to the MISC menu for 2023 Estimated Payments and enter the amount you paid. That way it is credited to your return and you can get a refund of the overpayment