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brianalee1
Level 1
June 6, 2019
Question

2017 estimated tax payments

  • June 6, 2019
  • 1 reply
  • 18 views
We paid estimated payments in 2016 and are getting a refund of most of the paid estimated taxes.
 This means I don't have to pay estimated this year but will I get penalized if we have more taxable income in 2017

1 reply

tygrtchr
tygrtchr
Level 7
June 6, 2019

Only if it is a significant increase.  If you anticipate having an increase in taxable income, you can pay a small amount of estimated taxes.  You can get the forms and information you need here:  https://www.irs.gov/pub/irs-pdf/f1040es.pdf

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