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jq80462

How do I know if I have to file quarterly individual estimated tax payments?

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Answered by Kelly Jones
0 Upvotes

You must make estimated tax payments for the current tax year if both of the following apply: 
●You expect to owe at least $1,000 in tax for the current tax year after subtracting your 
withholding and refundable credits. 
●You expect your withholding and refundable credits to be less than the smaller of: 
○90% of the tax to be shown on your current year’s tax return, or 
○100% of the tax shown on your prior year’s tax return.  
jca69031
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Written 2 years ago
 
 
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