ThomasM125
Expert Alumni

Get your taxes done using TurboTax

No, you need to pay in 100% or your previous year's tax or 90% (110% if income over $150,000/$75,000 MJ or single filer) of the current year's tax on a quarterly basis to avoid a penalty for late payment of tax. So, you can go off of this year's lower income to determine your estimated payments if any.

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