It’s a new year, but time for final 2014 estimated tax payment

I had a great time today talking with all the wonderful folks at Freelance Austin about taxes. The timing was perfect, too.

Not only is January the start of the annual filing season for the prior year's tax returns, it's also time to start thinking about moves to make this year to keep your coming tax bill low.

And tomorrow, Jan. 15, is the due date for the final estimated tax payment of 2014. Today's Daily Tax Tip has the skinny on filing estimated taxes.

Click voucher image for full Form 1040-ES package as PDF from the IRS.

Ways to pay: Several in the group, me included, had paid or scheduled payment of our last 2014 estimated tax amount via the Federal Electronic Federal Tax Payment System, or EFTPS.

If you don't already have an EFTPS account, but want to pay electronically, look into Direct Pay as a way to get your estimated payment to Uncle Sam sans postage stamp.

You also can use one of the IRS-authorized credit card payment processors to pay your estimated taxes. They are:

WorldPay 
1-888-9-PAY-TAX^TM (1-888-972-9829) 
www.payUSAtax.com

Official Payments Corporation 
1-888-UPAY-TAX^TM (1-888-872-9829) 
www.officialpayments.com

Link2GOV Corporation 
1-888-PAY-1040^TM (1-888-729-1040) 
www.PAY1040.com

Remember, however, that each charges a fee — it varies by provider, card type, and payment amount — to get your plastic payment to the U.S. Treasury.

Or you can go the old-fashioned route and print out Form 1040-ES from the Internal Revenue Service website and snail mail it and your check.

Like your regular tax return, the IRS considers estimated tax payments as timely filed and paid as long as the envelope is postmarked with the due date.

Four extra tax due dates each year: Again, that looming deadline is tomorrow, Jan. 15, for income you made in the final four months of last year.

The table below shows all the year's due dates for 1040-ES payments.

There is one way to avoid this final payment. You don't have to make the Jan. 15 payment if you file your tax return by Jan. 31 or the next business day if the last day of January falls on a weekend.

That's the case this year, so you get a couple more days, until Feb. 2, to file your full return and not have to worry about paying last year's final 1040-ES on Jan. 15.

You also might find these items of interest:

• Don't forget your state estimated taxes
• Where to mail your estimated tax 1040-ES voucher
• Be sure to include SE taxes in your estimated payment calculations