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c-isaak
New Member

Can I adjust the estimated quarterly taxes I owe? I will be earning less this year

How can I adjust estimated quarterly taxes for 2025?
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2 Replies
MindyB
Expert Alumni

Can I adjust the estimated quarterly taxes I owe? I will be earning less this year

Yes. There are several ways to do this.  You can either directly decrease the payments online at eftps.gov (no voucher needed); change the vouchers you printed manually; print vouchers and fill in as desired from the IRS 1040-ES; or update in TurboTax and reprint. 

 

Here is how to update in TurboTax Online:

  1. Navigate to Federal Taxes > Other Tax Situations
  2.  Go to Other Tax Forms
  3.  Start or Revisit Form W-4 and Estimated Taxes
  4. Continue past the W-4 section to get the estimated tax section, Estimated Taxes for 2025 
  5. You will be asked if you want to adjust  your income or deductions, answer yes, and manipulate the answers to decrease your tax (in other words, estimate down income and/or up expenses)

Can I adjust the estimated quarterly taxes I owe? I will be earning less this year

go to Other Tax Situations / Form W4 and Estimated Taxes, to go through interview for your expected 2025 income and withholding.  TT will default estimated tax calculation to paying 100% of 2024 tax, but if you go thru the 2025 interview you should be able to trigger the option to pay 90% of 2025 tax.

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