dmertz
Level 15

Retirement tax questions

RayW7's answer is incorrect and may cost you penalty and interest if followed.  If by January 15, 2021 you do not meet either the safe harbor of having paid 100% of last year's tax liability (110% for those with higher AGI) or the safe harbor of having paid 90% of your 2020 tax liability, you must make a fourth quarter estimated tax payment.  The deadline for making a fourth quarter estimated tax payment needed to avoid an under-withholding penalty is January 15, 2021.