The reasoning behind this is pretty silly, but I was wondering if you can make more than one payment through EFTPS for the same quarter. This is the first year I am making substantial money as a contractor (my sole income). It is my first time using EFTPS. Last week while setting it up I paid $2000 as a test. This was before I had really organized all my estimates and finances.
I owe another $5000 for this quarter (which I have sitting in my bank account). Can I pay this $5000 and apply this to Q1 too without messing anything up? Or are you just supposed to pay once per quarter? The only reason I am asking is because the tax forms for end of year which you indicate quarterly payments are a bit confusing. I want to make sure the two payments do not hurt each other! Thanks.