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When no tax was due for 2016 but there will be for 2017n…

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When no tax was...

When no tax was due for 2016 but there will be for 2017n what is the requirement to file estimated tax

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My Wifde died last July 2016 and I had no federal tax for 2016 but with her death I expect to have some taxable income for 2017 so what is my obligation to file estimated tax for 2017

Submitted: 7 months ago.Category: Tax
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Answered in 6 minutes by:
10/1/2017
Tax Professional: emc011075, Tax adviser replied 7 months ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,708
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

The main purpose of estimated taxes is to avoid underpayment penalty. You will not owe any penalty if, by the end of the year (or Jan 15 if you make estimates), you pay or have withheld lower of

90% of your current tax liability

OR 100% of your last year tax liability.

Look at her 2016 1040, line 63. If you pay at least this amount by the end of the year you can avoid the penalty. You can make the payments through withholding or estimates, whatever works for you.

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