If your gross income and tax situation has not changed from last year, you are likely to owe a similar amount for 2024, Lucas explained.
If you have paid roughly 75% of last year's total taxes by the end of September, "you're going to be pretty darn close, assuming everything is the same as the prior year," he said.
In those scenarios, you will need a more in-depth analysis to double-check your 2024 withholding, he said.
IRS tax withholding estimatorIf your tax situation changed this year, experts recommend periodically using a free tool from the IRS, known as the "tax withholding estimator."
watch nowAlternatively, you could make payments directly to the IRS to cover your 2024 tax shortfall, Lucas said.
Persons:
Lucas, you've, Mark Steber, Jackson Hewitt
Organizations:
Bank, Getty, IRS