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If I have an extra $50 deducted per bi-weekly pay, to pay extra taxes by my employer payments, do I enter that as "Federal Estimated Taxes"?

 
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3 Replies
BillM223
Expert Alumni

If I have an extra $50 deducted per bi-weekly pay, to pay extra taxes by my employer payments, do I enter that as "Federal Estimated Taxes"?

No.

 

These will be reported on your W-2.

 

Federal Estimated Taxes would be on a 1040ES.

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If I have an extra $50 deducted per bi-weekly pay, to pay extra taxes by my employer payments, do I enter that as "Federal Estimated Taxes"?

They should be included on your W2 in box 2.  All the withholding is there, it doesn't need to be broken out as extra.  Ask your employer if you're not sure it's in box 2.  

Kermit Smith
Returning Member

If I have an extra $50 deducted per bi-weekly pay, to pay extra taxes by my employer payments, do I enter that as "Federal Estimated Taxes"?

Hi,

 

No. Estimate payments are payments you send in separately.  This "extra" amount could also be adjusted by adjusting your w-4. Considered the same thing.

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