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Returning Member
posted Jan 30, 2025 8:34:27 AM

Should I amend for estimated tax?

I made a mistake when I filed in how much estimated tax I gave by a few hundred, feeling a tad guilty about it and don't want to risk any problems with the IRS. I hear a lot of mix things about this type of topic so wanted to give a definitive yes or no answer.

0 10 1367
10 Replies
Expert Alumni
Jan 30, 2025 8:37:36 AM

Are you saying that you entered that you paid estimated tax for 2024 that was wrong? If so, this could have affected your refund (making it bigger), so this is a big deal.

 

Or are you talking about estimated tax somewhere else?

Returning Member
Jan 30, 2025 8:39:39 AM

Sadly no I overshot it a bit as I mess up the first few quarters, so I would owe a bit more, granted only by around 280.

Expert Alumni
Jan 30, 2025 8:43:07 AM

Could you clarify what you mean by "Sadly no I overshot it a bit as I mess up the first few quarters, "?

 

OK, you had some 1040-ES forms, right? And they specified a dollar amount to pay each quarter. And we are talking about during 2024, right?

 

How much did you actually pay each quarter, quarter by quarter? And how much did you report paying in TurboTax?

Returning Member
Jan 30, 2025 8:48:11 AM

I don't want to give to much information since I am quite private but when filing I made an error in the first 2 quarters, first I thought I gave over a 100 extra, and second 180 extra as well. My mistake, the final other 2 were accurate. I only realized this after the fact when going over things and slapping my hand against my head in annoyance. Again if this is something that needs to be amended I can do that when Turbotax lets me around the 15th.

Level 15
Jan 30, 2025 8:53:12 AM

i would not amend at this time. this is an error that the irs/state is likely to catch and adjust automatically. only if isn't would you need to amend. 

Returning Member
Jan 30, 2025 8:56:51 AM

If I may ask, how so?

Level 15
Jan 30, 2025 9:30:40 AM

The IRs should catch the error and correct it automatically. only if it doesn't will you need to file an amended return

Returning Member
Jan 30, 2025 9:38:48 AM

So would I get a letter at some point telling me to pay the difference then? I been doing this for a few years and I am just a bit wondering since I normally always play it careful. I rather just want to correct my mistakes since I am aware of them.

Level 15
Jan 30, 2025 9:41:56 AM

Yes you would get a letter.  Just wait and see what the IRS does.  

Returning Member
Jan 30, 2025 9:59:19 AM

No way I can just pay it off sooner?