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metheniac
Level 1
March 21, 2021
Question

I just printed out my tax returns and noticed there are 4 vouchers to pay my federal taxes in installments. is that an option for me?

  • March 21, 2021
  • 2 replies
  • 25 views
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2 replies

VolvoGirl
VolvoGirl
Level 15
March 21, 2021

No!  They are not for your tax due.  The 1040ES are estimates for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.

    DoninGA
    Level 15
    DoninGALevel 15
    Level 15
    March 21, 2021

    The Form 1040-ES are for paying 2021 estimated taxes.  If you do not need these forms then just disregard.

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