I use TurboTax Home & Business to do my taxes every year. Since the 2017 edition is out and since I won't be receiving any more income this year, I've used it to figure out what my 2017 federal and state tax payment will be.
Since 4th quarter estimated taxes aren't due until mid-January, I can just make that payment be the exact amount I have left to pay given my first three estimated tax payments. That way, my annual taxes will be zero: I don't owe anything and I'm not due a refund.
After filling in those numbers in TurboTax, it says I don't have to pay any kind of estimated tax penalty, so there's no issue there.
This seems like a good idea to me, since I don't have to deal with making any payments nor wait for the government to issue me a refund. I'm just done and can file my taxes immediately.
So my question is... is there any reason not to do that?
For example, does the IRS look suspiciously on annual taxes that have no payments or refund? Or is there some kind of benefit or loophole I'm missing by doing this? I honestly have no idea!