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jesong7
New Member

I'm simple case with W-2. I found explanation 'Estimated Payments to Make for Next Year's return' from pdf file of turbotax. That says pay $796 by quarter. What's that?

Do I have to pay by quarter to United States Treasury? or withhold by Company automatically?
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rjs
Level 15
Level 15

I'm simple case with W-2. I found explanation 'Estimated Payments to Make for Next Year's return' from pdf file of turbotax. That says pay $796 by quarter. What's that?

You don't have to make quarterly estimated tax payments as long as you have your employer withhold enough tax from your pay. You can use the Tax Withholding Estimator on the IRS web site to figure out what you should put on the W-4 form that you give to your employer to make sure you have enough tax withheld.


Tax Withholding Estimator

 

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3 Replies
rjs
Level 15
Level 15

I'm simple case with W-2. I found explanation 'Estimated Payments to Make for Next Year's return' from pdf file of turbotax. That says pay $796 by quarter. What's that?

You don't have to make quarterly estimated tax payments as long as you have your employer withhold enough tax from your pay. You can use the Tax Withholding Estimator on the IRS web site to figure out what you should put on the W-4 form that you give to your employer to make sure you have enough tax withheld.


Tax Withholding Estimator

 

I'm simple case with W-2. I found explanation 'Estimated Payments to Make for Next Year's return' from pdf file of turbotax. That says pay $796 by quarter. What's that?

If Turbotax gave you ES vouchers, that means your W-2 withholding was way too low.

OR

you had an exceptional situation that will not recur, but TurboTax can't know that.

jesong7
New Member

I'm simple case with W-2. I found explanation 'Estimated Payments to Make for Next Year's return' from pdf file of turbotax. That says pay $796 by quarter. What's that?

Thank you so much!

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