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Returning Member
posted Nov 16, 2022 1:08:23 PM

Overpaying Estimated tax

Since this was the first year working as 1099 worker, I wasn't sure how much estimated tax I have to pay, so I think I overpaid. Will there be any problem getting the tax refund for overpaying?

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1 Replies
Expert Alumni
Nov 16, 2022 1:20:05 PM

If you overpaid you will get a refund of the over payment or you can apply the over payment to your 2023 taxes to reduce your 2023 estimated payments.

 

If you request a refund, filing electronically will get you the refund faster. Also, filing earlier (rather than waiting for the deadline) will likely get you a faster refund.

 

Congrats on being aware of your tax payment responsibilities as a 1099 earner and staying ahead of things!