Reply To: Required to pay estimated taxes based on unexpected / unforeseen income?

Home Fairmark Forum Other Tax Topics Required to pay estimated taxes based on unexpected / unforeseen income? Reply To: Required to pay estimated taxes based on unexpected / unforeseen income?

#3239
motax
Participant

One way to take care of it is to have withholding equal to previous year’s tax liability. That way, even if you have unexpected income and owe tax, there will not be any estimated tax penalty.