Thank you. Your response is helpful. Let me try the question this way. Based on the information provided in my original post, would you agree with this statement?:
“I have a belief that my federal tax liability for 2020 will be approximately $22,000 (from which $5,000 in federal taxes would be already withheld periodically by my employer in my monthly paychecks, and $17,000 in 2020 federal taxes would be still owed due to stock dividends received and other one-time income windfalls). If I pay a single 2020 estimated tax payment of $2,500, I would achieve paying federal taxes that would be equal to my total tax liability in 2019 (i.e., $5,000+$2,500=$7,500). When I do my 2020 tax return, I will see I owe $14,500 in federal taxes ($22,000 - $7,500). I will pay the $14,500 to the feds on April 2021, but I will not pay any penalties or interest on that amount owed as I have safe harbor.”
Would you agree to this assessment? (By the way, I reside in a state with no state income tax)
