What if my estimate isn't very accurate?
The IRS requires you to enter your very best estimates.
If the amounts you enter overestimate your overall federal taxes owed (or underestimate your expected federal refund amount), you'll get a refund of the difference when you file your regular federal tax return.
If you underestimate your federal taxes, the IRS may assess a late payment penalty and interest when you file your regular federal tax return.
We strongly recommend that you overestimate your estimated federal taxes owed to avoid paying penalties and interest.
If the amounts you enter overestimate your overall federal taxes owed (or underestimate your expected federal refund amount), you'll get a refund of the difference when you file your regular federal tax return.
If you underestimate your federal taxes, the IRS may assess a late payment penalty and interest when you file your regular federal tax return.
We strongly recommend that you overestimate your estimated federal taxes owed to avoid paying penalties and interest.
