Make applying estimated tax payments to a previously underpaid quarter optional

I'd like an option to disable applying a quarterly tax payment to the previous quarter if QuickBooks determines it was underpaid. QuickBooks shouldn't assume this. If I would have paid what QuickBooks recommended I would have overpaid several thousand dollars for 2018. I anticipated this would be high and cut some money of each estimated quarterly payment. By the time I paid Q4, it applied the rest of it to Q3 and now shows I still owe a bunch for Q4... I do not. I have wrapped up my taxes in TurboTax online and QB overshot by 6k. The dates line up with when the quarterly payment was due. Why try and backpay the previous quarter? Turn this feature off or let us specifically funnel that money to the quarter we chose.

Answer

Thank you for posting here in the Community, natelaff.

Let me provide some information about applying estimated tax payments to a previously underpaid quarter.

The recommended payment is the amount that we recommend you pay to avoid additional taxes at the end of the year. Basically, not always the amount that the IRS will say you have to pay.

At this time, the system will automatically apply payments to a previously underpaid quarter. However, any payments for the new quarter of 2019 will no longer apply to the last quarter of 2018.

I can see the importance of having a feature that can disable applying a quarterly tax payment to the previous quarter. I'll be sending this as feedback to our Product Development Team to be considered in the future enhancement of the product.

Check these articles for more information: 

That's it. If you need anything else or further clarification about estimated taxes, please don't hesitate to leave a comment below. I'm always here to help. Have a good day.

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IntuitMaryJoy , Community Support Specialist
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