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posted Jun 20, 2021 1:52:23 PM

Do my four estimated tax payments for the year all have to be the same amount, or can I increase the September and January payments?

(My tax situation changed a bit since I made the June estimated tax payment and I would like to pay a larger amount in September and January. But I always thought IRS insisted the four payments had to be the same amount.)

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2 Replies
Level 15
Jun 20, 2021 2:00:27 PM

Actually they are optional to pay and the IRS won't be expecting them.  So you can change the amounts or skip one, etc.  Just cross out the amount and write in a new amount.

Level 15
Jun 20, 2021 2:00:34 PM

The four payments do not have to be equal.  So, yes, you can increase your Sep and Jan payments.

 

The 4 payments must be equal rule is a special situation, to avoid an underpayment penalty for "front loaded" income and is not applicable to your situation.  Example: taxpayer has large income in the first quarter (e.g. stock sale).  Rather than paying all the tax on the sale, in the first quarter, he can make 4 equal quarterly payments and avoid a penalty.