kbiswas_1977
Returning Member

2023 Estimated Taxes

Hello,

 

I filed my 2022 tax return and got four 1040-ES vouchers for 2023 since we owed about $10K in 2022 taxes. My wife and I both work and file jointly. We have now made some changes in our W-4 forms and expect more taxes to be deducted from our paychecks for the remainder of 2023. Previously, we were both claiming deductions/allowances resulting in too little taxes being withheld from our paychecks during 2022. 

 

My question is, should I be making all the 1040-ES voucher payments? Or could I make two estimated payments for 2023? Again, we are assuming that more taxes will be withheld from our paychecks for the remainder of 2023.

 

Thank you.