Employee TurboTax Specialist

Other tax discussions

I don't think there is one right answer here.  There is certainly value in having your 2018 payments recorded on time and on track from now on and you definitely want to avoid owing taxes again for 2018 if you are going to need to be on an installment agreement for 2017.

 

Though, money wise, you are likely to accumulate more interest and penalties overall by putting the full amount of 2017 taxes on an installment agreement, then you will by missing one quarter of estimated tax payments (especially if you anticipate being able to make the remainder of the estimated payments).  Also, estimated tax payments are just estimates - whereas your 2017 tax liability is a final obligation.