Instead of making payments 4X a year, Can I make 1 "Large" payment in April, 2022 for all of 2022 ? Thanks,
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Of course you can - as long as it is paid by the 15th. -
ES payments are recorded as paid when made (as opposed to W/H that is recorded as received evenly throughout the year), so paying all by 1Q2022 deadline of 15 April will make your 1Q payment on time and have you paid in advance for the other three quarters. I have some clients who like to make only one ES payment by 15 April. And, I have clients who like to make an ES payment every time they receive income, usually monthly. Just aim for the Safe Harbor amounts of 100%/110% of prior year or 90% of current year, even if you have to make a catch-up payment by the 4Q2022 deadline of 15 January 2023.Comment
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