Payment Voucher Questions

Forum|Forum|2 years ago
April 11, 2024
2 replies
0 views

I have money i owe on my tax return. Im pretty sure i opted to pay my return through my bank every few months, as I put in my bank account info. However, I can only find a few payment vouchers on a .pdf, and not any confirmation that my bank is linked to the payment. Additionally I dont know that my vouchers are all of the payments needed to be made as they dont equal up to my federal and state taxes owed. I have looked all over the app. Please help, i want to make sure i pay on time and that I have enough money. Thank you

BillM223

Level 15

"Im pretty sure i opted to pay my return through my bank every few months," - called "estimated tax payments"

You have to track and enter your own estimated tax payments.

File an extension ASAP (if you haven't already) then do a study tomorrow for transactions in your bank account headed to the Department of the Treasury.

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VolvoGirl

Level 15

Are the payment vouchers four 1040ES slips? Those are NOT for the 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. So they won't be expecting them. 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.

Your tax due is a Single 1040 V voucher unless you entered your bank account for the IRS to pull it out.

How to pay a federal tax due

https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212