Why would I need to pay estimated taxes?
Article ID: IAS10161
Estimated tax payments may be needed to be made if you:
- Are self-employed with net income;
- Expect to receive significant income from non-wage sources such as retirement accounts, rental income, stock sales, alimony, etc.; or
- Expect to lose a significant deduction or credit. For example, if you had a large adoption credit last year that you will not have this year.