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Published by Eva Rosenberg, MBA, EA

Volume 6, Issue 275        September 10, 2004

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Pension Withholding
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» From: New York, NY

Dear TaxMama:

Can Tax Form 945 be paid quarterly or semi-annually?

Or is it just annually?

Thank you.

Connie

TaxMama Replies

Hi Connie,

Form 945 is an annual form reporting taxes withheld from pensions, annuities, IRAs, gambling winnings, etc.

While the form only gets filed at the end of the year, there's nothing to stop you from using the Form 8109 coupons to make estimated payments on a quarterly basis or with any other frequency your heart desires.

The vouchers are in the little yellow voucher book IRS sent you when you got your Federal ID number.

Oooh, NOW you know what that's for.

Incidentally, you're also welcome to use IRS's Electronic Federal Tax Payment System - EFTPS.

It may make it easier for you to get the payments in on time - and it will provide proof of your payment.

Best wishes,

Eva Rosenberg
Your TaxMama


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