Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
terasabelle
New Member

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

 
1 Best answer

Accepted Solutions
ddaven12
New Member

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan. 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

View solution in original post

5 Replies
ddaven12
New Member

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan. 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

View solution in original post

Froelbo
New Member

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

Will I still recieve  my refund? I’ve never in the past had these vouchers before 

npierson7
Level 1

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

Yes, you will get a refund if it was correctly calculated on your tax return. 

Froelbo
New Member

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

Great thank you

VolvoGirl
Level 15

If I am getting a refund. Why do I receive 4 vouchers to pay the IRS?

If you are receiving a refund or low tax due and TurboTax prepared the vouchers then your tax liability was probably reduced by credits.

Dynamic AdsDynamic Ads
Privacy Settings
v