Hi Diane,
In reading this,
"Please check line 24 , Form 1040 for 2020. This is your tax liability for 2020 and if that line is zero, then any dollar amount paid in advance would be more than required."
I am trying to reconcile with what IRS writes about estimated taxes. They say
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Who may need to pay estimated taxes
Individuals, including sole proprietors, partners and S corporation shareholders, may need to make estimated tax payments if:
- they expect to owe at least $1,000 when they file their tax return.
- they owed tax in the prior year.
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And here is where I am just not sure. The language "they expect" is not really clear. In April 2021 I didn't "expect". Only in late May 2021 did I "expect".
In any case I am making some payment immediately, just to hedge my bets...
