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Does new tax cut affects estimated 2018 tax payments?

Does new tax cut affects estimated 2018 tax payments?
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3/15/2018
Tax.appeal.168
Tax.appeal.168, Tax Accountant
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Hello. Thank you for choosing this Q&A service for assistance. My name is***** will be assisting you. I am prepping my response, which I will provide to you in the next thread(s).

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The answer to your question is no, estimated tax payments are not affected by the new tax reform. You know that estimated tax payments is nothing more than prepaying your estimated tax liability.

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Customer reply replied 4 months ago
but since 2018 tax will follow new tax regulations, how it will be okay to use current tax due to estimate 2018 taxes

I see what you are saying. However, as you do not have any other figures to go off of, you will have to use the current figures, or guestimate. Again, they are estimated taxes. As long as you are paying at least 90% of the tax, you will be fine.

Tax.appeal.168
Tax.appeal.168, Tax Accountant
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Customer reply replied 4 months ago
ok thank you

Your are quite welcome. Thank you for the 5 star rating. I do appreciate it.

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