There a couple of options.
- You could utilize the W-4 calculator in TurboTax and likely reduce your allowances. This should help avoid the problem next year.
- You can make estimated payments to the IRS. Further, there is an option that is easy, online, and you can make the payments every pay-date. The IRS has a new system called directpay.irs.gov you can make a portion of the quarterly estimated payments from TurboTax each payday. Take the estimated payment amount and divide it by the number of paydays each quarter (3 months. For example a 2,500 dollar quarterly payment would be 833 dollars a month.) I use this personally. It is an easy way to control my tax payments, you can make sure you have paid enough to avoid the estimated tax penalty next year.
