We owed ~$3k this year. This was a one time event. I will not owe any additional in 2017. 540-ES forms printed out. Do I need to pay these estimated taxes?

mmelcher8 — Thu, 06 Jun 2019 05:54:03 GMT

The program produces these forms as a convenience for you...

AnthonyC — Thu, 06 Jun 2019 05:54:04 GMT

The program produces these forms as a convenience for you to make the payments. You are not locked into those payments. The program will produce them automatically if you owed tax as the government requires you to withhold enough tax to cover your tax liability or make estimated tax payments. If you don't have enough withholding and you don't make estimated tax payments, then the IRS or state can charge you with an underpayment penalty.

If you owed tax this year because of a one-time event and you won't owe next year, then you can decline to send any payments. You can also decline to send the payments even if you will owe tax next year, but you may be assessed an underpayment penalty.

topic We owed ~$3k this year. This was a one time event. I will not owe any additional in 2017. 540-ES forms printed out. Do I need to pay these estimated taxes? in Get your taxes done using TurboTax

We owed ~$3k this year. This was a one time event. I will not owe any additional in 2017. 540-ES forms printed out. Do I need to pay these estimated taxes?

The program produces these forms as a convenience for you...