2021 Estimated tax calculator quarterly can help taxpayers estimate their quarterly tax payment easily. As you know , the extension to May 17, 2021 for individuals to file their 2020 federal income taxes does not apply to estimated tax payments.If you want to compute estimated tax for 2020 (although time is gone for that !) you can use this estimated tax calculator for 2020 & 2019 tax year.
Estimated Tax Calculator Quarterly
Fundamental Rule About Estimated Tax Payment
Generally, you must pay the estimated tax for 2021 if both of the following situations apply to you.
1. Your estimated tax liability for the tax year 2021 is at least $1,000 after reducing your withholding and refundable credits for any tax payment that you may have done.
2. Your expected tax withholding and refundable tax credits are less than the smaller of:
a. 90% of the tax to be shown on your 2021 tax return,
or
b. 100% of the tax shown on your 2020 tax return.
You can read more about the estimated tax payment.
Post Disclaimer
While the information on this site - Internal Revenue Code Simplified-is about legal issues, it is not legal advice or legal representation. Because of the rapidly changing nature of the law and our reliance upon outside sources, we make no warranty or guarantee of the accuracy or reliability of information contained herein.