KrisD15
Expert Alumni

After you file

No, you needn't increase your final estimated payment because of your additional income.

 

As the answers above point out, as long as you have paid your 2021 tax liability (the total tax on your 2021 income, not just the balance due) you will not have a penalty for underpayment added. 

 

We understand that your income may be higher this year and also that your TAX LIABILITY may be larger for Tax Year 2022 than it was for Tax Year 2021, therefore you may have a tax balance due, but if you paid your Tax Year 2021 tax liability by way of Estimated Tax Payments, you will not incur a penalty for underpayment. 

 

Below is a link to an IRS Tax Topic which may provide more clarity.

 

IRS Tax Topic 306

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