Tax Voucher or How to Pay IRS Ahead

[hjinhua415-gmail]

Hi, could someone help me with the following situation?

by tracking the tax withheld, it seems the tax paid for 2023 will not reach 100% of last year or 90% of this year. So, I am thinking of paying IRS ahead of time to avoid an underpayment fine.

1) Through Tax Voucher

I saw 4 tax vouchers with 2022 tax filing. I didn't pay for the first three ones. Could I just pay for the last one? 

2) Or could I just pay online directly?

If I pay through a tax voucher or online, will that payment automatically be uploaded to Turbotax when I work on my tax return next year? Thanks!

[dmcj611]

If you are certain you will owe additional income taxes, my thought is to pay with a voucher. It specifies tax year 2022. This way your payment will be credited to the correct tax year.

[Mike9241]

if you can why not increase the withholding by your employer. An estimated tax payment only counts for penalty purposes when made so if you pay it now, you will still have a penalty for the first 3 quarters. 

***************************

If I pay through a tax voucher or online, will that payment automatically be uploaded to Turbotax when I work on my tax return next year? No Turbotax will not assume the payments have been made so you'll need to enter it when doing your return

**************************

here's a link to the online payment -reason estimated tax

https://directpay.irs.gov/directpay/payment?execution=e2s1 

[NCperson]

@dmcj611 the benefit of paying at the IRS website is there is no check to be mailed.  Mailing the check and voucher has become riskier due to theft at the mailbox.  If you are going to mail the check and voucher, take it directly to the post office window.  do not put it in a mailbox.  serious about this. 

[SteamTrain]

....and in case you are confused by the first post...the tax year estimate you are paying is for 2023, not 2022.

[fanfare]

if you make an estimated payment now and Jan 15, there should be no penalty because you have withholding.

Generally if your withholding is too low, the solution is to submit an updated W-4 to your employer based on your expected 2024 income.

@hjinhua415-gmail 

[hjinhua415-gmail]

Thanks for all the replies above!

I already have additional withholding. It seems the best way is to further increase the withholding to make sure it hit the last year's tax due.