How can I prepay taxes for 2017

Forum|Forum|7 years ago
June 5, 2019
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Hal_Al

Level 15

You should pay in quarterly estimated taxes if you don't have enough withholding taken out to cover the tax on all your income. You might be able to increase your W2 withholding to account for the extra income.
You should make estimated tax payments for the current tax year if both of the following apply:
- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.
- 2. You expect your withholding and credits to be less than the smaller of: 90% of the tax to be shown on your current year’s tax return, or 100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)

TurboTax (TT) can prepare the payment vouchers. In your 2016 software, enter at:

Federal Taxes or Personal

Other Tax Situations

Other Tax Forms

Form W-4 and Estimated Taxes - Click the Start or Update button

If your goal is just to avoid the underpayment penalty, then paying 100% of the prior year tax liability is the “safe haven”

Or you can obtain blank IRS 1040ES estimated tax vouches for 2017 at
http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Hal_Al

Level 15

You can also pay Federal directly here. Be sure to select 1040ES:
<a rel="nofollow" target="_blank" href="https://www.irs.gov/Payments">https://www.irs.gov/Payments</a>