Hello and thank you for your questions.
Normally it is the estimated payments that helps you not to pay penalties but if you believe you are making more money than the previous year it is recommended to increase the amount because you are going to have underpayment penalties. The IRS wants their money before the end of the year if your tax liability is going to be more than $1,000.00 otherwise the IRS levies underpayment penalties.
You can use the Tax calculator to estimate your taxes at https://turbotax.intuit.com/tax-tools/
You can also find additional information at https://ttlc.intuit.com/community/tax-payments/help/why-am-i-getting-an-underpayment-penalty-if-i-m-...
I hope this answered your question. Thank you so much and have a wonderful evening
**Say "Thanks" by clicking the thumbs up icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
