Do I need to pay estimated taxes?

[SID23]

Greetings:

I am wondering if I must pay estimated taxes for a one time bonus (with no taxes witheld) that I just received this month?
According to Nerd Wallet, the answer is probably no (as I have withheld 110% of my tax liabilty from last year) but check with a tax professional.
Is that correct tax professionals? Thank you in advance for your advice.

 

[adjusterjack]

Never mind internet guides. Do some calculating based on the IRS instructions:

https://www.irs.gov/pub/irs-pdf/f1040es.pdf

 

[LdiJ]

Greetings:

I am wondering if I must pay estimated taxes for a one time bonus (with no taxes witheld) that I just received this month?
According to Nerd Wallet, the answer is probably no (as I have withheld 110% of my tax liabilty from last year) but check with a tax professional.
Is that correct tax professionals? Thank you in advance for your advice.

How much is the one time bonus? Is that bonus going to be included in your W2 or is your employer going to treat it differently?

 

[SID23]

How much is the one time bonus? Is that bonus going to be included in your W2 or is your employer going to treat it differently?

$20,000 bonus. No taxes withheld. Not sure if it will show up on W-2. I’m guessing, no.

 

[Taxing Matters]

$20,000 bonus. No taxes withheld. Not sure if it will show up on W-2. I’m guessing, no.

In general bonuses paid to an employee are also wages and are subject to income and FICA tax withholding. They should also be included on the W-2. What is the reason your employer provides for not doing that?