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thesyds
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My return said I have to pay quarterly for 2022 - can I opt out and just pay lump sum when I process next years taxes?

 
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Gunner-AZ
New Member

My return said I have to pay quarterly for 2022 - can I opt out and just pay lump sum when I process next years taxes?

Yes you can, though you might have to pay a penalty to the IRS for underpaying your taxes during the year.

My return said I have to pay quarterly for 2022 - can I opt out and just pay lump sum when I process next years taxes?

If you don't pay estimated tax and you end up owing $1000 tax or more at the end of the year, you could get a penalty.

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