First year having to pay in in taxes; I filed the tax return with payment and when I printed my tax return off it printed a 1040ES Voucher. Do I owe this payment also?

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xmasbaby0

Level 15

The 1040ES vouchers are optional. If you expect to owe at least $1000 at tax time next year it is a good idea to use them and make estimated quarterly tax payments to avoid a penalty at tax time next year. But you are not required to use them. You can also make estimated payments online at the IRS site if you want to. The one you must use if you are mailing a check or money order for 2022 tax due is the one that says 1040V.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

robtm

Level 10

1040es is for estimated taxes because your tax witholding indicates you will owe more taxes than will be withheld during the year. You should pay the amount indicated on the 1040ES by the date on the form. This helps you to avoid getting a penalty for underpaying your current taxes.