Skip to main content
TurboTax
Community
TurboTax
TurboTax
joeker1
Level 1
Dec 16, 2023 12:24 AM UTC
Solved

Estimated taxes

Hello, I received a substantial bonus very recently.  The total withholding for this year from my regular salary plus what was withheld from the bonus will be significantly less than my total estimated 2023 taxes.  However, the total withholding is greater than 110% of my 2022 taxes.  Do I need to pay any estimated taxes?  Based on my reading, even though I will owe a significant amount of taxes when I file my 2023 taxes, I do not need to pay any estimated taxes for 2023.  My filing status is married filing jointly.  Am I missing anything or anything else I need to consider?  Thank you

2 replies

Anonymous_Answer
Level 15
Dec 16, 2023 1:07 AM UTC

See https://www.irs.gov/publications/p505#en_US_2023_publink1000194557

    SusanY1
    SusanY1
    Alumni - Intuit
    Dec 16, 2023 5:57 PM UTC

    You understand the rules correctly regarding the requirement for estimates to avoid an underpayment penalty. The link given above by tagteam breaks out the additional details if you wish to delve further.   

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
      TurboTax flag icon

      Unlock tailored help options in your account

      Create an account
      TurboTax Expert Assist
      TurboTax Expert

      Get answers to all your tax questions

      Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

      Explore your options
      Terms & ConditionsAccessibility statement
      Sitemap
      Intuit
      TurboTax Credit Karma QuickBooks MailChimp

      ©1997-2026 Intuit, Inc. All rights reserved.
      Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

      Security Certification of the TurboTax Online application has been performed by C-Level Security.

      By accessing and using this page you agree to the Terms of Use.

      About Cookies Manage cookies

      TRUSTe nResult Certified e-File C-Level Security Certification
      Intuit
      TurboTax Credit Karma QuickBooks MailChimp

      © 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

      Copyright © Intuit Canada ULC, 2026. All rights reserved.

      About Cookies Manage cookies

      Intuit
      TurboTax Credit Karma QuickBooks MailChimp

      © 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

      © 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

      À propos des témoins Gérer les témoins