Hello,
The payment is 1/4th of your total tax, not 1/4th of the amount you owe on April 15. - Understood.
So here are my takeaways,
1) if I owed more than $1,000 on prior year' tax return, I should file and pay estimated quarterly tax payment (pay a I earn through out the year).
2) Though I paid the tax owned in full, my tax owed amount was greater than $1,000 so I should've filed and paid estimated quarterly taxes (ongoing year payment, as I pay as I earn).
3) I guess filing estimated quarterly tax payment will become a norm if my tax owed is greater than $,1000 every year.
Question is, is there a way I can file abatement (first time waiver) through TurboTax? I just don;t want to wait the IRS phone line and deal with them.
