2020 Quarterly Filing NOT Self Employed

[VolvoGirl]

You must make quarterly estimated tax payments for the current tax year if both of the following apply:

- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.

- 2. You expect your withholding and credits to be less than the smaller of:

    90% of the tax to be shown on your current year’s tax return, or

  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months).

Here are the blank Estimates and instructions…..

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

Estimates are basically optional.  You might want to send some extra in so you don't owe so much on your tax return.  

[Mattman]

Thanks but if i can accomplish the same through increasing my paycheck withholdings then doesnt that mean i wont have to send in quarterly payments? Bc i wouldnt expect to trip either of those 2 trip wires, presuming i withhold enough from my paychecks to avoid tripping thise trip wires. If you wouldnt mind could you assume (which i know is dangerous but i accept that) that i will actually withhold enough thru just my paychecks when you respond that would be great please. Thanks

[VolvoGirl]

Yes we should have mentioned that.  You can increase your work withholding .  That's a good way to do it.