Reply To: I filed 2021 correctly; wrongly chose to pay Est Payments on full 2021 tax

Home Fairmark Forum Taxation of Investments I filed 2021 correctly; wrongly chose to pay Est Payments on full 2021 tax Reply To: I filed 2021 correctly; wrongly chose to pay Est Payments on full 2021 tax

#77498
Kaye Thomas
Moderator

You never have to justify estimates, or a mid-year change in estimates. You could pay $20,000 the first quarter, $5,000 the next quarter, and nothing the rest of the year, without explaining the drop-off. It’s not unusual for people to change their estimates during the year based on a change in income or even a change in the amount of cash they have available to make the payments.