topic Estimated Tax in Get your taxes done using TurboTax

Estimated Tax

Bonnie111 — Thu, 02 Jul 2020 04:20:04 GMT

I was anticipating to receive additional income in early 2020 and intended to make an estimated tax payment in July 2020, but I didn't receive the additional income. Is it acceptable to hold back on making any estimated tax payments to either September 2020 or January 2021 until I actually receive the income?

Re: Estimated Tax

fanfare — Thu, 02 Jul 2020 05:50:59 GMT

your estimated tax payments to the IRS should track your income.

Re: Estimated Tax

VolvoGirl — Thu, 02 Jul 2020 05:55:11 GMT

Yes. The estimates are optional to pay and the IRS won't be expecting the amount at a certain time.

Re: Estimated Tax

Bonnie111 — Thu, 02 Jul 2020 13:34:16 GMT

Thanks for confirming!

Re: Estimated Tax

Bonnie111 — Thu, 02 Jul 2020 13:35:14 GMT

Perfect! Thank you