Evenly Divided Quarterly Federal Tax Payments

Don5789 — Tue, 24 Feb 2026 07:35:25 GMT

At the beginning of 2023 I estimated my income and set up evenly divided Federal Tax payments.

I received an additional unexpected $10,000 that I will owe Federal Taxes and want to avoid any tax penalty by paying the Federal Taxes on this additional sum of money.

1. Can I just add additional money to the 4th quarter Federal Tax payment before the January 2024 deadline?

2. Or is it possible/better to make a separate payment now for this amount and the final 4th quarter payment by the January 2024 deadline?

Best regards,

Don L.

Re: Evenly Divided Quarterly Federal Tax Payments

ElizabethW2 — Wed, 25 Oct 2023 18:33:49 GMT

Hello, Don!

One of the purposes of making estimated tax payments through the year is to avoid the Underpayment of Estimated Tax (UET) penalty. Those four equal, quarterly payments achieve this goal as long as they pay at least 100% of the tax due on your prior return (2022)or 90% of the tax calculated on the current year return (2023). IF your quarterly payments did that, you can choose to pay an additional amount in fourth quarter OR to pay any balance due on the return. So long as the balance is paid on or before the April 2024 filing deadline, you wouldn't incur any late payment penalties.

That said, I encourage that if you choose to prepay in fourth quarter that you make two (2) separate payments: first, one to be the fourth equal payment to meet IRS criteria then the second for the estimated tax due on the additional income.

I hope this information answers your question. If you found it helpful, please say "Thanks" by clicking the thumb icon below. If you found it to be the best answer, please click on "Mark as Best Answer".

Elizabeth W., EA

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Evenly Divided Quarterly Federal Tax Payments

Re: Evenly Divided Quarterly Federal Tax Payments