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L
ladybuggin
April 9, 2022
Question

Do I have to pay estimated taxes in 2022 when my income will be much lower?

  • April 9, 2022
  • 1 reply
  • 0 views
I did a Roth conversion last year and overpaid taxes thru estimated taxes and taxes withheld throughout the year and will therefor get a huge refund for 2021.  My income will be way lower this year since I won't be doing a conversion.  Do I still have to pay estimated taxes based on the 2021 inflated 'income'?

1 reply

VolvoGirl
VolvoGirl
Employee
April 9, 2022

No.  They are optional to pay and don't get sent with your return so the IRS won't be expecting them.

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