Quarterly estimated tax payment

[JoeB]

I am making less this year than last year — can I make 3 of the 4 payments without penalty? And, if I’ve overpaid will the IRS reimburse me?

[Cindy4]

Yes, you will get credit with the IRS if you overpay.  You can chose to have it refunded or apply to the next year.

As long as your estimated payments for the year equal at least 90 percent of the total tax that you will owe for this tax year, or at least 100 percent of the total tax on your previous year's return. 

Here is a great resource  for future reference.

Hope this helps!

Cindy