Hi, can I change the quarterly tax payment amount in the middle of the year? We over-estimated the taxes and would like to reduce the amount for the upcoming payment

[yinian]

With company stocks doing poorly (compared with last year), we are over-paying for quarterly tax payments, which we estimated based on last year's income. We already paid the high amount twice this year, but would like to correct that for Q3 (due on Sep 15) . What process do I need to go through in order to do that? We are under the impression that the quarterly payments need to be the same. Thanks!

[NCperson]

@yinian - they don't need to be the same, they don't need to be made; they are totally under your control. 

the only process you need to go through is pay less (or don't pay at all)!  (if you are using the paper vouchers and mailing the payment, just cross through the amount on the pre-printed voucher to match what you are paying). 

the only risk is that you under pay and are subject to late penalties in April, but sounds like you have a good control on where you will land in April., 

[VolvoGirl]

You can just cross out the amount and write in a new amount.  They are estimated payments.  They are optional to pay and don't need to be the same amount.  You can pay any amount you want.  

You can pay any amount directly on the IRS website https://www.irs.gov/payments

Be sure to pick the right kind of payment and year.....2022 Estimate

To prepare or change estimates for next year you start with your current return, but be careful not to change anything.  If you can't get back into your return, Click on Add a State to let you back into your retun.

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 (Deskop H&B)

Other Tax Situations

Other Tax Forms

Form W-4 and Estimated Taxes - Click the Start or Update button

And in the Desktop program you can switch to Forms and open the Estimated Tax Payments Options sheet.  You can even select to print the estimates with just your personal info and no amounts.  You  can play with and tweak the amounts.  You can open the individual 1040ES forms and override the amounts.