If it had been at least two weeks since the payment was sent to IRS, you should check with your financial institution immediately before you call us. If the check has still not cleared your account call (800) 829-1040 and ask an IRS representative if the payment has been credited to your account. If the payment has not been credited and your check has not cleared you may choose to place a stop-payment on the original check and send another payment.

Rarely does an S corporation make estimated tax payments. On rare occasions the following taxes may have estimated consequences if the total of these taxes is more than an amount specified by law:

1. the tax on certain capital gains,
2. the tax on built-in gains,
3. the excess net passive income tax, and
4. the investment credit recapture tax.

For more information regarding estimated tax, refer to Form 1120S Instructions, U.S. Income Tax Return for an S Corporation, under topic Estimated Tax Payments, and Publication 542, Corporations, under topic Paying and Filing Income Taxes.

If you have income from farming, you may be able to avoid making estimated tax payments by filing your return and paying the entire tax due on or before March 1 of the year your return is due. If March 1 falls on a weekend or legal holiday, you have until the next business day to file and pay tax. This estimated tax rule generally applies if at least 2/3 of your total gross income is from farming during the tax year or previous tax year. Refer to Chapter 2 in Publication 505 , Tax Withholding and Estimated Taxes and Tax Topic 416, Farming and Fishing Income, for additional information.

Take credit for all your estimated tax payments in the "Payments" section of Form 1040 (PDF), U.S. Individual Income Tax Return, or Form 1040A (PDF), U.S. Individual Income Tax Return.

References:

• Publication 505, Tax Withholding and Estimated Tax