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Deductions & credits
What is your 2023 tax ? Do you have withholding? Did you get a refund this year?
If your total 2024 withholding alone is 100 % of prior year tax (110% if your 2023 AGI is over $150,000),
you can avoid any penalty in 2024.
You don't need to make Estimated Tax payments.
One possible action is to submit a W-4 to employer to increase withholding for the rest of this year.
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Separately, Estimated Tax payments may be advisable to pledge you can pay the amount you owe on Tax Day
‎July 20, 2024
3:50 AM