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jbrode83
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Can I make an estimated tax payment before the end of this year and how do I do that?

I have not made any estimated payments this year.
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Can I make an estimated tax payment before the end of this year and how do I do that?

you can do them any time (make payment on irs.gov and be sure to select 1040-ES and 2025 tax year, avoid mailing checks with vouchers if able), it's just as question of how much you owe, whether they're late and how much the penalty will be and whether you can reduce it if your income was uneven.

 

Start by determining how much you actually owe.  See form 2210 lines 1-9 for the "safe harbor" calculation, also form 1040-ES may be helpful.  To avoid penalty you need to have paid through timely (usually quarterly) estimated tax (ES) or withholding, the smaller of 100% of your 2024 tax (110% if AGI > 150k or 75k if filing MFS), or 90% of your 2025 tax.  Withholding is always considered "timely" regardless of when it was taken vs. your income.  The rest of your tax due above the "safe harbor" amount is due when you file in April.

 

If your income/tax increased in 2025 vs. 2024 due to cap gains, Roth conversion etc, it may be that your optimal safe harbor would be simply based on 100/110% of 2024 tax - and if you met that thru withholding then you don't need to pay ES.

 

To determine your 2025 tax you can try an online calculator (TT 2025 online won't be open til Dec, and the 2025 desktop s/w doesn't have 1099B and other sections available yet) or consult 1040-ES or IRS withholding calculator may help.  Folks have recommended this calculator

https://www.dinkytown.net/java/1040-tax-calculator.html

 

If you do end up needing to pay ES it's late in the year to do it, you are probably going to have a penalty unless you covered it via withholding already; but if you pay what was due for Q1-3 ASAP, you can stop the penalty accruing further, then pay the Q4 installment by January.

 

If your income/gains is not even thru the year and is higher in later quarters (e.g. Q4 Roth conversion) you may be able to reduce (but not eliminate) the penalty by filing Form 2210 Annualized Income (AI) method where you have to break down your AGI/withholding/cap gains etc by quarter (not even - 3/31, 5/31, 8/31, 12/31), it can be some extra calculation/filing work.  You can work thru this option and choose whether to adopt it, when you file under Other Tax Situations / Underpayment Penalties (otherwise TT will calculate the IRS default penalty assuming even income over the year).

 

When you prep your return, you enter any ES paid in the Deductions & Credits section, Estimates and Other Taxes Paid.

 

Be sure to plan for 2026 when you file 2025 to avoid same issue next year - under Other Tax Situations / Form Q4 and Estimated Taxes you can provide estimates for 2025 income/withholding, otherwise by default TT will generate ES vouchers for 2026 based on 2025 tax and assuming your withholding stays the same.  Either way you don't have to use the vouchers or the amounts generated by TT, again try to pay electronically if able, they are just informational.

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