Drake Tax – 1120: Payment of Balance Due and Estimated Taxes

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Article #: 10178


For Form 1120, both the tax due and estimated tax payments must be made electronically.

Tax Due

To pay corporate tax due, use either the PMT screen or EFTPS (Electronic Federal Tax Payment System).

Watch the video Electronic Funds Withdrawal for a demonstration.

Estimated Taxes

Pay estimated taxes electronically through EFTPS. To record payments that have already been made for this year, use the left side of the ES screen.

Note Form 1120 does not have federal estimated tax vouchers.

The IRS discontinued Form 1120-W after 2022.

Resources

See the Form 1120 Instructions for details on payment requirements.

For more information about EFTPS:

Drake Tax – 1120: 2220 Penalty

Drake Tax – 1120: Applying an Overpayment to Next Year