Under the election, the unused current year credit is treated as a payment made on the later of the due date of the return (without extension) or the date on which the return is filed. It does …

Mar 3, 2025 · In general yes, but there are some qualifications. The tax payments would have to be 110% of the prior year's tax if you earned over $150,000 ($75,000 if filing married …

Nov 25, 2025 · Taxpayers are permitted to use whichever rule results in the lower overall payment obligation. The first rule requires payment of at least 90% of the tax liability shown on the …

Apr 11, 2025 · You'd need to look at Line 16 of your 2023 Form 1040 (or equivalent line depending on which tax form you used) which shows your total tax. But here's where people …

Mar 16, 2021 · Relying on your prior year tax liability is often referred to as the “Exception One” or the “Safe Harbor” amount. When your next year income is less certain, we often recommend …

Form 2210, also known as the “Underpayment of Estimated Tax by Individuals, Estates, and Trusts” form, is used by taxpayers to determine if they owe a penalty for underpaying their …

Mar 22, 2024 · For the 2024 tax year, taxpayers must pay at least 90% of their current year's tax liability or 100% of their prior year's tax liability (110% if their adjusted gross income is more …

Jul 5, 2014 · Enter the 2018 tax you figured above unless the AGI on your 2018 return is more than $150,000 ($75,000 if married filing separately for 2019). If the AGI shown on your 2018 …

On line 5, enter your maximum required annual payment, which is based on your prior year tax. On line 6, enter the total from line 5 minus line 4. If this amount is less than $1000, you don’t …

Estimated Tax Payments: How They Work, 2025 and 2026 Due Dates Learn how and when to make estimated tax payments in 2025 or 2026, and learn whether to worry about them in the …