Not necessarily. It depends on if you will owe taxes next year. If you had an unusual event that caused you to owe this year and have not owed taxes in the past, you may not owe more taxes next year. If your tax bill has been steadily increasing over the years, you may want to change your withholding or make quarterly payments depending on how much you owed this year. If you owe less than $1,000 there is no fine and you may make that payment before or on April 15. If you owe more than $1,000, you may be assessed a fine. In that case you would benefit by making quarterly tax payments. Tell Turbo Tax to print your payment coupons and it will calculate the amounts for you. Double check the dates and submit to the appropriate address.
