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My employment provides me with a W-2 at the end of the year, and I currently have taxes withheld from my paychecks. In the opposite of this question, Pay estimated tax using W-4 withholding instead of quarterly payments, I'd like to know if I can elect to have zero withholdings from my paycheck and instead make estimated payments with a 1040-ES.

In this case, I have a generally good idea of my exact tax liability, so I can easily make quarterly payments without trying to predict fluctuating income. I'd just like to make sure it's legal to make quarterly estimated payments if you have income that would ordinarily pay taxes through withholdings.

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  • Note - the questions were identical. Instead of leaving the good answers posted here, I 'merged' the questions, effectively moving these answers to that question page. New answers should only be posted there. – JTP - Apologise to Monica Mar 1 '19 at 10:22