Mycroft
Life happens
How's that? I don't think I'm going to owe since I pay so much in taxes as it is.
What he means is the following:
If you're on W-2, then the estimated taxes are deducted from each paycheck automatically by your employer. To receive the rebate early, just increase your W-4 deductions to reduce the amount withheld from your paycheck. Keep track and once you've gotten to keep about $7,500 more than you normally would, then decrease your W-4 deductions back to where they were.
If you work for yourself or on multiple 1099's, then just reduce your quarterly extimated payments until you have your $7,500.
For example, I'm currently paying about $8,000 each quarter to Mr. IRS man. So for the payment due June 16th, I just send them a check for $500 instead and voila, I have my "rebate" early. :smile: