Question

Johann had a gross tax liability of $22,508 in 2021, but his employer only withheld taxes...

Johann had a gross tax liability of $22,508 in 2021, but his employer only withheld taxes of $19,500. Johann's gross tax liability was $21,000 in 2020. Assume CARES Act applies. Calculate Johann's under/overpayment in each quarter for 2021 tax purposes.

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Answer #1

In four quarters,

Answer computed as follows:



Dates		 (1)
Actual
Withholding		 (2)
Required
Withholding		 (1) - (2)
Over (Under)
Withheld
April 15, 2021 $ 4,875 ($19,500 × 0.25) $ 5,064 ($22,508 × 0.9 × 0.25) $(189)
June 15, 2021 $ 9,750 ($19,500 × 0.50) 10,129 ($22,508 × 0.9 × 0.50) (379)
September 15, 2021 $ 14,625 ($19,500 × 0.75) 15,193 ($22,508 × 0.9 × 0.75) (568)
January 15, 2022 $ 19,500 20,257 ($22,508 × 0.9 × 1) (757)

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