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New Member
posted Apr 18, 2022 5:35:24 PM

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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2 Replies
New Member
Apr 18, 2022 5:37:40 PM

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

Level 2
Apr 18, 2022 5:41:19 PM

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.