Originally Posted by dthogey
What really ticks me off is that I have to pay the estimated taxes this year based on how things did last year.
If you expect to have a similar income situation this year as last, then yes, you should use the estimated tax worksheet to make quarterly payments.
If last year was an exception and you don't expect to owe any taxes at the end of this year, then no, you don't have to use their estimated tax sheets or make any payments.
But if you get it wrong, they may decide to charge you penalties and interest on that unpaid sum . . .
When we were living in the UK, we had to file and pay UK taxes, and
we had to file US taxes just to be sure we didn't owe them anything. That was fun, with a US salary and UK living expenses in different currencies, and different filing periods between the two countries.
Every year, the UK accountants did their estimates and said "Oh my god, you owe £5,000 and you have to pay it right now
And then we'd complete the actual forms, and get a £6,000 refund . . .
After the first year, we said "No, we're not paying anything until you complete the forms and give us a final total." And every year, we'd get a refund . . .