Hi Poppypinkish, thank you for joining TurboTax special forum today, and for your thorough explanation on the tax question - how not to have a substantial balance due when filing tax year 2021 tax returns.
I recommend that you set up a test ID using TurboTax Online 2020 program to project the 2021 tax outcome. You would need to annualize the Federal/state tax withholdings by viewing most recent pay stubs. By annualize, I mean how much taxes has been withheld up to date, how much taxes would be withheld at 12/31/2021 using the current W-4 with the payroll department. Then you would have a good idea what is the balance due when filing tax year 2021 tax returns.
If the shortfall is more than you like, you can:
1. revise the W-4s to have more tax withholding with current employers. If you are Married Filing Jointly, it does not matter which spouse to have more withholding. It is just a way to send tax money to IRS to pay against the tax year 2021 tax liability;
2. and/or you can leave the W4s alone, and mail in estimated tax payments when cash flow permits. The 1040-ES vouchers are at the end of below link. Page 1 "General rule" is also helpful
https://www.irs.gov/pub/irs-pdf/f1040es.pdf
3. and/or you can use IRS Direct Pay to make online estimated tax payment.
https://www.irs.gov/payments/direct-pay
Hope the above helps.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
