for Half-Price!
If part or all of your stipend/salary comes from a fellowship in 2024 and you're not having income tax withheld from your paychecks, you might be responsible for paying estimated tax on a quarterly basis in 2024.
If you're required to pay estimated tax and fail to do so, not only will you face a large tax bill during next tax season, you may even have to pay a penalty.
To calculate your estimated tax, you have to fill out the Estimated Tax Worksheet on p. 8 of Form 1040-ES.
If you need any help with filling out the Estimated Tax Worksheet specifically with respect to your fellowship income, join Quarterly Estimated Tax for Fellowship Recipients, which is the sister workshop to the tax return workshop you just purchased.
Quarterly Estimated Tax for Fellowship Recipients shows you how to:
  • Fill out every single line of the Estimated Tax Worksheet (Line 1 is the most subtle for fellowship recipients!)
  • Handle common scenarios like switching on or off fellowship mid-calendar year or being married to someone with income tax withholding
  • Set up a system of "self-withholding" to prepare to make your tax payment(s)
  • Take a shortcut if you don't want to fill out the full worksheet
Click here to read about all the benefits of the Quarterly Estimated Tax for Fellowship Recipients—but don't navigate away from this page or you will lose this offer.
The estimated tax workshop has a parallel structure to this workshop: video modules with transcripts, a spreadsheet, and at least one live Q&A call leading up to each quarterly payment deadline.
I hope that you will decide to join the sister workshop so I can help you figure out whether you are required to pay estimated tax and prepare for your 2024 tax bill—stress-free!