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Level 2

Question

How file estimated 2022 return?

Forum|Forum|3 years ago
August 9, 2022
2 replies
19 views

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!

Not A Product Question

Level 15

@Gman708 -simply use this website to make the payments; the IRS never turns down money!

https://www.irs.gov/payments

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.

Level 2

Thanks, that would be very straightforward. Do I need to file any forms now? or just make the online payments based on my estimate of the federal tax?

Level 15

@Gman708 - no forms required...suggest getting in the habit of making the 'quarterly' payments..the 2022 due dates are April 15, 2022; June 15, 2022; Sept 15, 2022 and January 15, 2023.....

Level 15

Or if you want to mail in a check. Here are the blank Estimates and instructions…..

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

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