How do I know if I must file quarterly individual tax payments?
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Tax Professional Answers
William Keats
You should pay quarterly federal estimated taxes if your balance on the last tax return was over $1000. If you do not want to go that route then you must adjust (increase) your withholding tax on your W-2 income, if you are working, or on your retirement income, if received. Your balance due, if any, should be u8nder $1000.
If you have refunds each year, then everything is OK. No need for quarterly payments.
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554 weeks ago
If you have refunds each year, then everything is OK. No need for quarterly payments.