In addition to Volvogirl's statement, the IRS has a few methods to calculate your estimated tax payments.
- 90% of your estimated 2023 taxes
- 100% of your actual 2022 (110% if your adjusted gross income was higher than $150,000 or $75,000 if Married Filing Separately)
- 100% of your estimated 2023 taxes
- 66 2/3% of your estimated 2023 taxes for farmers and fishermen only
Your payments should be made in equal payments to avoid a not prepaying penalty. However, if you receive income unevenly during the year, you may be able to vary the amounts of the payments to avoid or lower the penalty by using the annualized installment method.
@JKQ888
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