Calculating 2026 Estimated Taxes with Social Security Retirement Benefits as Major Income Source

[Paulse3]

I've read in various places that I need to pay estimated taxes if I expect to owe more than $1,000 in federal taxes for 2026.

TurboTax estimated my 2026 taxes would be $3,516.  When I clicked continue TurboTax said it would not prepare estimated tax payment vouchers because I have no estimated tax liability.  Can someone explain this to me?

[AmyC · Accepted solution]

There are reasons the IRS will not charge a penalty (paid 100% of prior year tax bill or new retiree) and the program thinks that if you won't have a penalty, you don't really want to pay.

If you prefer to keep the balance below $1,000 so you don't accidentally get into extra penalties for willfully failing to pay when owing $5,000 or more.

You have 2 options: 

• You can ask Social Security to withhold more in taxes, Online use  Request to withhold taxes | SSA
• You can make estimated payments. The IRS has announced they prefer payment through their online portal. Mailing in checks and paperwork takes much more manpower. You can make Payments.