In general, you need to pay in 100% of the tax amount on your previous year tax return or 90% of the tax on your current year tax return on a quarterly basis to prevent a penalty for underpayment of tax. If your income is over $150,000 or $75,000 if married filing separate, you must pay in 110% of the previous year income tax. You can learn more by reading this TurboTax article.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
