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jen-p-ayres
New Member

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

 
7 Replies
fanfare
Level 15

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

Make all required payments at the IRS website's  "Make a Payment" page.

VolvoGirl
Level 15

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

The quarterly taxes are just estimated payments for next year and not specifically required.

 

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).

 

How to make the Estimated payments

https://ttlc.intuit.com/community/tax-payments/help/how-do-i-make-estimated-tax-payments/00/25875

 

Here are the blank Estimates and instructions…..

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

 

Or you can pay directly on the IRS website https://www.irs.gov/payments

Be sure to pick the right kind of payment and year.....2021 Estimate

jen-p-ayres
New Member

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

Thank you! I'm not sure I understand #2, but it will definitely be over $1k. My question is, everytime I log into TurboTax and try to purchase the self employed version for 2021, it jus takes me to a page that says I've already paid my federal and state. I paid all taxes for 2020 May 15th of this year, and then got paid in one lump sum on May 21st. Any advice? 

Thanks!

Jenny 

VolvoGirl
Level 15

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

The 2021 version does not open until December.  

 

To prepare estimates for next year you need to be in your current 2020 return. If you can't get your return open, Try this, you can sign back onto your account, click on Add a State. This should get you back into your return. Be very careful not to change anything in your actual return.

 

You can just type W4 in the search box at the top of your return , click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.


OR go to
Federal Taxes or Personal (Home&Business version)
Other Tax Situations
Other Tax Forms
Form W-4 and Estimated Taxes - Click the Start or Update button


Say No to W4. When you get to the W4 and Estimated Taxes section, say you want to adjust your income to go though all the screens.

jen-p-ayres
New Member

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

Wow, okay this is super helpful. So for self employment income earned in May 2021, I do have to pay estimated taxes by June 15th of THIS YEAR, correct? TurboTax doesn't make this easy. I don't want my fees to add up so I'm thinking of just sending in 15.3%  of income (divided by 4). I don't know. 

VolvoGirl
Level 15

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

There's no fee to use Turbo Tax to prepare the estimates.  Or you can just send in an amount you want on a blank 1040ES form or pay the IRS directly online.  I,gave the IRS links above.

Critter-3
Level 15

Does anyone know how to file quarterly taxes (the ones due June 15, 2021)? I've already filed federal

What are estimated taxes?

https://ttlc.intuit.com/replies/3301588

Do I need to make estimated tax payments to the IRS?

https://ttlc.intuit.com/replies/3301891

                      

 

 

How do I make estimated tax payments?

https://ttlc.intuit.com/replies/3301258

 

Can TurboTax calculate next year's federal estimated taxes?

https://ttlc.intuit.com/replies/4242911

 

Can TurboTax calculate the estimated payments for next year's state taxes?

https://ttlc.intuit.com/replies/3301735

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