Get your taxes done using TurboTax

Q1) As you can see, my Estimated Income Tax payments more than cover my income tax liability. However, it seems I still need to hold approx 40k in federal tax from my Dec 31, 2021 payroll. Can I withhold just $0 income tax?  Yes, of course.  Fed/state withholding is an option on a paycheck (W-2) not a requirement. 

 

Q2) The numbers will remain the same in 2022.  How can I pay more via Estimated taxes instead of Withholding?  Simply increase what you are paying ... the amount that  is auto populated on the 1040-ES forms in the TT system is not written in stone.  Cross off what is there and enter anything you like.  Or go to the IRS and make a payment directly on that site (check your state for their payment options).   https://www.irs.gov/payments