This is my first year in retirement so no longer doing automatic withholdings. I have some taxable income from consulting and also from IRA conversions. How do I file estimated taxes so there is no underwithholding penalty at end of year? I realize this is a basic question but if you can point me in the right direction I would appreciate it!
@Gman708 -simply use this website to make the payments; the IRS never turns down money!
also, check your state revenue website for similar on-line payments
then when you complete your tax return next year, there is a place on the form to post the payments you already made so you get credit for them on the tax return.
Or if you want to mail in a check. Here are the blank Estimates and instructions…..
The 1040ES quarterly estimates are due April 18, June 15, Sept 15 and Jan 17, 2023. Your state will also have their own estimate forms.
Or you can pay directly on the IRS website https://www.irs.gov/payments
Be sure to pick the right kind of payment and year.....2022 Estimate