Do I need to pay estimated taxes, where I expected far less income than last year?
Do I need to pay estimated taxes, for a 'one-off'
year? For 2018 I had a lot more income
than I expect for 2019. Partly because I
lost my job in 2018 and had a big severance.
That said, I still got a refund for 2018 year based on about $240k
income. For year 2019 I expect to make
far less (probably around $170k). With
almost the same deductions and paycheck taxes withheld, so therefore I expect an even higher refund this year.
My question: For the 2018 taxes, Turbotax
automatically generated 'estimated payments'.
Do I really need to pay them if I expect far less income and a higher
refund this year of 2019?