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New Member
posted Jan 27, 2020 5:58:46 PM

1040 ES Forms

I just filed my 2019 taxes.  I owe a little over $1000 in Federal but will receive a State refund.   After I filed, in the turbo tax PDF copies, I received an IRS 1040-ES, to submit 4 quarterly payments for estimated Fed Tax shortfall for 2020.   

 

 My question is, are these 1040-ES coupons now mandatory based on my 2019 filing?  I'm not a contractor nor self employed but rather a Gov employee.  Perhaps I can just lower my Witholding # for pay this year, and thereby increase Fed Tax deductions.  In that case, would I still have to submit these 4 1040-ES vouchers? 

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2 Replies
Level 15
Jan 27, 2020 6:01:23 PM

They are NOT mandatory ... they are suggested if you owed more than $1000 in 2019 and you did not make any changes in the Estimated payments section to avoid the auto calculation of the estimated forms.  If you change your withholding at work then you will automatically cover the estimated shortfall. 

New Member
Jan 27, 2020 6:03:22 PM

Whew, thank you!!!!  Yes,  I will plan to adjust my witholding #.  This is great news.