Thank you all. Another thing that I am confused is:
My understanding is if I still can make extra tax withheld through my regular paycheck, I do not need to worry about this. However, if I can not have enough withheld through the rest of the year with paycheck and I have to make estimated payment, I may possibly pay penalty because I did not make payments in the previous quarters. The part confuses me is that I am may end up paying same amount of tax at the end of the year, through pay check I don't have to pay penalty, while through estimated tax, I may need to. This idea is hard for me to understand.
If my understanding is correct, will it make any difference if I try to let my employer withhold as much as possible for the rest of the year and still pay some amount of estimated tax. Will it potentially same me some money compared to only through estimated tax payments?
