Quarterly estimated tax payments

[ohgillian]

So apparently roseflower is going to prompt us all to ask things we've been meaning to ask. 

I've recently begun helping my elderly mom with her finances. Her income sources are Social Security, and a distribution from her retirement account because she has a Required Minimum Distribution. I know RMDs were waived for 2020 , so this question I don't think applies for this year. But for future years, I think she needs to make quarterly estimated payments and I have no idea how to do this, how much to pay, etc. I get the general concept, but need a tutorial. 

And if we have taxes withheld from the RMD, do we still need to make quarterly payments?

[Susie]

I don't know much about taxes on RMDs and social security so I don't have much advice about how to determine the correct amount, but the mechanics of estimated payments aren't hard. They're due 4/15, 6/15, 9/15, and 1/15 of the following year, so for 2020 they're due 4/15/20, 6/15/20, 9/15/20, and 1/15/21. You can either pay by mail using form 1040-ES and a check, or you can pay them online (which is what I do) here: www.irs.gov/payments. To pay online you need to verify certain info from a previous year return, and you identify the payment as an estimated payment/1040-ES payment for the current year.

I pay quarterly estimated taxes because I am self employed.  I use the same accountant personally as my firm, and I have him advise me on how much to pay in estimates.