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Get your taxes done using TurboTax
Thank you. I have read through the publications prior to submitting the question. I do appreciate the assistance and quick responses! I am not a business owner. In filing of my 2018 taxes, I had no estimated quarterly pre-payments due during 2019. When I sold stock in 2019, I set aside some funds to address taxes; however, as like most loyal citizens....I'd prefer to keep my money until the last possible moment (eg: I'd rather have interest in my account rather than the government having interest on it). Regardless, the estimated tax question is confusing and I've heard (but not found) specifics on a penalty if you don't pay estimated. So, if I play the tax estimation game, and I believe I owe more than $1K plus the already paid withholding from my employer, is the penalty applied? Should I write a check for what I think I owe before Jan 15, 2020 and then sort it out when all the tax forms are received when I file?