Hi,
How do you calculate estimated tax voucher amounts for clients who extend?
e.g. we normally have our clients who extend make an overpayment with their 4868, which will go towards the 4/15 estimated tax payment. But now we are closing in on 6/15 and we still don't have their prior year information, so don't know what amount would reach the 100/110% safe harbor.
Any tips for this predicament? do you just play it safe and take a conservative guess?
The last filed tax year in this instance is 2020, which had no RMD requirement, so I can't really use those amounts without making some adjustments.
Any help is appreciated, this must be a common problem...