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posted Jun 4, 2021 2:38:16 PM

My 2020 taxes were very high,I had take a large lump sum payment when I retired.For 2021 my income will be much lower.Do I need to pay estimated taxes? There are vouchers

Income for 2020 was over 270,000. Estimated income for 2021 to be less than 80,000. Married filing jointly.

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Level 15
Jun 4, 2021 2:53:58 PM

The estimated tax Form 1040-ES for payment of estimated taxes for tax year 2021 are optional.  You do not have to use the forms if you do not think they will be needed for 2021.