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Kate29173
New Member

I have fed taxes taken out on my paychecks every paycheck, does that count towards estimated tax payments?

 
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4 Replies

I have fed taxes taken out on my paychecks every paycheck, does that count towards estimated tax payments?

Yes if you are making separate estimated payments you should account for them.  But only enter the withholding from your W2, nowhere else.  

dmertz
Level 15

I have fed taxes taken out on my paychecks every paycheck, does that count towards estimated tax payments?

It counts toward tax withholding, not estimated tax payments.  Both go toward satisfying your annual tax liability but they are not treated the same with regard to satisfying your quarterly tax liability (unless you explicitly choose to treat tax withholding as paid when withheld instead of treating it as paid uniformly throughout the year).

I have fed taxes taken out on my paychecks every paycheck, does that count towards estimated tax payments?

there's one line for paycheck withholding , and one line for Estimated Tax, so you have to track them separately.

I have fed taxes taken out on my paychecks every paycheck, does that count towards estimated tax payments?

for purposes of computing underpayment of estimated tax penalties, 1/4 of your Federal withholding is considered to be paid each quarter. this is true even if all the withholding occurred in the 4th quarter. you can elect to specifically allocate what was actually withheld for each quarter. estimated tax payments count in the tax quarter in which paid.   

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