To answer your first question, I need to respectfully ask you what is making you think you need to file a corrected return? Have you not included social security benefits as income or the net profit from the business?
If you believe you will owe the IRS $1,000, you are required to make estimated tax payments, these are pre-payments and will pick them up on your annual tax return to offset any tax liability.
Turbotax will help you in this process, in fact, if you owe taxes, our system will automatically prepare the estimated tax vouchers based on your income for that year. We recommend you use our Tax Calculator to estimate how much you will owe.
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