2021 Form 1040_ES Payment Voucher 1 missing...

[Anonymous]

Just filed yesterday and noticed that I will have estimated tax payments again this year.  Last year when I did this there were 4 vouchers each for the same amount.   That makes sense.  This year voucher 1 is missing, voucher 2 is for one amount, and vouchers 3 and 4 are for another amount, sense; this makes none.   

Since I overpaid tax last year and was due a refund this year, in part because of the estimated tax payments, I have let uncle Sam keep my refund and apply to next year, I guess this a form of estimated tax payment.   But why not take that amount into account and divide the remaining estimate by 4? 

I'm not fully expecting this to all make any sense but my main concern is around missing the first payment since there wasn't a voucher for that.

[MinhT1 · Accepted solution]

When you choose to apply your refund to next year's taxes, the IRS will apply your refund to the first installment(s) of estimated taxes until all your refund has been used. And TurboTax used the same rule to calculate the amount of estimated tax you have to pay for each installment.

In your case, it appears that your applied refund was larger than 1/4 of your total estimated tax for 2021. So the refund was used for your first installment, then the remainder of that refund is applied to the second installment which is be smaller than 1/4 of the total.

This is why you have no voucher for the first payment, a voucher for a reduced amount for the second payment and two equal vouchers (for 1/4 of the total estimated taxes) for the 3rd and 4th payment.

You do not have to worry about missing the first payment. Applying your refund to next year's taxes and paying the vouchers as printed out will be exactly like receiving refund and paying the 4 estimated payments.

[Tsing]

I just finished the 2020 tax return.  I did not get the printed vouchers for 2021 estimated tax.  Why?  I over paid grossly for 2020 estimated tax, but I am asking for refund for the overpayment.  So I still should have the estimated tax vouchers for 2021.  Am I missing something?

[Tsing]

Are the refunded tax return treated as income?  I overpaid the estimated tax for 2020, so I am getting a refund.  Is this refund taxable for 2021?  If so, would it be better to use this refund to pay for the 2021 estimated tax, so I do not have to pay tax on it?

[Anonymous]

Federal tax refund isn't treated as income, its the return of your overpayment of taxes for the year.  If you know you will have estimated tax payments for 2021 its your choice to apply the return to 2021.  

[Tsing]

I do not know my estimated tax for 2021.  How do I calculate it?  I paid way over estimated tax for 2020 so I am getting the refund from IRS and Franchise board. But I am sure I have to pay some taxes for 2021.  Where do I get the voucher and roughly how much ?

[BillM223]

@Tsing

Do you have non-employee income? Normally, your withholding should be set to cover your tax. People pay estimated taxes when they have non-employee income (whether interest and dividends, stock sales, Schedule C, etc.). You can use the IRS Tax Withholding Estimator to estimate what your withholding should be.

If you want to file that first quarter estimate tax form, you can go here to see the forms and the instructions.

Alternatively, you can go to the IRS Payment webpage and just pay the 1st quarter there.

How do you know how much to pay? You might use the Withholding tool above to get a feel for the amount of tax you might owe, then pay that over the four quarters. But a definite answer requires more information than we have here in the Community.

[DTHIL47]

I want to print out a payment voucher to pay my taxes

[MichelleLO]

Please see the below TurboTax Help Article to assist with printing your payment vouchers:
How do I print estimated tax vouchers for my 2021 taxes?

@DTHIL47

[Rcollins1941]

Need to print and mail 2021 Form 1040 ES Voucher

[MaryM428]

To print and mail your 1040-ES vouchers follow these steps in TurboTax:

In the search bar type 1040-ES and then jump to 1040-ES

• Answer No to the W-4 quetion
• Review your estimates and make adjustments if needed
• When you get to screen:  Prepare Estimated Tax Vouchers?
• At the screen Print Vouchers?  Select Yes

After you have completed and paid for TurboTax online

• Tax Tools
• Print center
• Print to pdf
• The vouchers will be in the pdf and you can print just those pages

IRS 1040-ES