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Self employed
Since you income is lower than the amount you earned in 2022 you could recalculate your income for 2023 and base your estimated taxes on the lower number.
You can use the calculation tool in https://www.irs.gov/pub/irs-pdf/f1040es.pdf or if you are currently a TurboTax customer you can following the instructions here https://ttlc.intuit.com/community/taxes/discussion/newbie-and-quarterly-estimated-taxes-for-2023/00/....
That way you do not have to wait for a refund. If your new amount is lower just tax your new estimated liability subtract out what you have paid for the first two and divide by two for September and January.
Let us know if we can be of further assistance. Thanks for joining our live event.
Janet CPA
‎August 30, 2023
11:02 AM