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Get your taxes done using TurboTax
Yes, if you are certain that you will not have the same income OR will have more withholding, you are not REQUIRED to pay estimated taxes, but if you are short next year, the IRS will apply a penalty.
Generally, a penalty is assessed if you owe $1,000 or more in taxes. The penalty will not be assessed if you paid at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.
In the TurboTax, we help you with the calculations: https://ttlc.intuit.com/questions/2584228-can-turbotax-calculate-next-year-s-federal-estimated-taxes
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May 31, 2019
10:38 PM