4tq Quarter Estimates - General Question

[LuckyLefty8]

First year self-employed, confused on quarterly estimates.  Here are the facts:

- Total federal tax liability of $40K in 2018

- Applied $18K of my refund (10/15 extended filer) to 2019 liability

- Received a W-2 in 2019 for Q4 work - total fed tax withheld of $50K

- Did not make any quarterly  estimated payments at all in 2019

- Anticipate my 2019 total tax liability to be $150K

So, I'm not sure if I will be penalized or not...?  Or how that works?  Clearly I have remitted over 110% of my 2018 liability, but it was thru employer withholding in Q4 2019 and my 2018 refund applied to 2019.  Any thoughts here?

Thanks!

[Bsch4477]

You should be fine.  The IRS considers the W-2 withholding to have been paid throughout the year.

[LuckyLefty8]

Thanks for the quick response!  I thought that was how it may work, but was not entirely sure.  Makes sense.