I have tax liability over $1,000 from self-employment income, which I believe is the threshold requiring quarterly estimated tax payments. However, way too much money is deducted from my spouse's W-2 income, leaving us with a refund. I expect very similar income totals this coming year. Do I pay some amount quarterly, and then get all that money back when I file next March, or can I skip estimated taxes because of the extra paid through my spouse's employment? When I complete our estimated tax worksheet it comes out to $0, but I do not want an underpayment penalty for not paying taxes that I do not actually owe. I do not see a situation, especially with the new tax law, that we would owe money next year unless I make substantially more income myself, at which point I would have to pay additional estimated taxes in future months anyway. Thank you everyone!
