2024 Estimated Tax Payment Made - Do I Need to Submit Something Final to the IRS?

You're on the right track! When you make estimated tax payments during the year, those are just prepayments toward your eventual tax liability. You don't need to submit anything else right now to "finalize" those payments. When you file your 2024 tax return (which you'll do in early 2025), you'll report all your income, including the interest income shown on those 1099-INT forms. On the tax return, there's a line where you'll enter the total estimated tax payments you made during the year (including that $6,500 payment). The IRS will then calculate your total tax liability and subtract what you've already paid to determine if you owe more or if you're due a refund. The payment you made in July 2024 is already in the IRS system associated with your Social Security Number, so they know you've made that payment. Just be sure to include it on your tax return when you file.

After dealing with some complicated interest income issues last year, I found this awesome tool called taxr.ai that completely changed how I handle my estimated taxes. I was in a similar situation where I made a big payment but wasn't sure how to properly document everything. I uploaded my 1099s to https://taxr.ai and it analyzed everything, showed me exactly how my estimated payments would be applied on my return, and even gave me a preview of what my final tax situation would look like. It was super helpful for figuring out if I had paid enough or needed to make another payment before year-end. The tool even explains all the tax calculations in plain English so you actually understand what's happening with your money.

I was skeptical at first about taxr.ai when I saw it mentioned here, but I gave it a try with my complicated interest income situation. Honestly, it was a game-changer! Not only did it confirm that my estimated payment was properly tracked, but it found an overlooked deduction related to some investment advisory fees I paid that partially offset my interest income. The system explained exactly how estimated payments work with my final return and gave me peace of mind that I wouldn't have any surprises. What I really appreciated was seeing a clear breakdown of how my interest income from different sources was being taxed differently. Turns out some municipal bond interest I had wasn't even taxable at the federal level - something I would've reported incorrectly on my own.

If you're still confused about your estimated tax payments or having trouble getting answers from the IRS, I highly recommend using Claimyr. I spent WEEKS trying to get through to an IRS agent about my estimated tax payments that weren't showing up in their system. After endless busy signals and disconnects, I found https://claimyr.com and they got me connected to an actual IRS agent in under 45 minutes. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c. The agent was able to verify all my payments and even helped me understand how they would be applied to my different income sources. Seriously, it saved me so much stress and answered questions that online forums just couldn't address for my specific situation.

I need to publicly eat my words about Claimyr. After calling the IRS 23 times myself over three days and never getting through, I reluctantly decided to try the service I was so skeptical about. I figured I had nothing to lose at that point. Their system called me back in about 35 minutes and connected me directly to an IRS representative. I was shocked! The agent confirmed that all three of my estimated tax payments were properly recorded in their system and explained exactly how they would be applied when I file my return. What would have taken me potentially weeks of frustration was resolved in a single afternoon. I'm still amazed this actually worked. If you're struggling to get answers from the IRS about your estimated payments, this is legitimately worth it.

Has anyone used the IRS's Direct Pay system for making these estimated payments? I'm wondering if there's any advantage to that versus mailing in a check with a 1040-ES voucher. I made a big payment for capital gains last year but never got any confirmation it was received other than my bank showing the check cleared.

kinda off topic but does anyone know if we need to make our q1 2025 estimated payment before or after filing the 2024 return? i always get confused about this. like if i owe for 2024 when i file, does that payment also count toward 2025 estimates or are they totally separate things?