topic Re: Estimated payments in Get your taxes done using TurboTax

Estimated payments

Shorinryu — Mon, 09 Mar 2026 07:43:08 GMT

I had a refund of around $1000 this year but Turbo Tax is indicating I still need to make estimated payments. Why?

Re: Estimated payments

SteamTrain — Fri, 18 Mar 2022 17:05:02 GMT

Hard to know as we can't know all the details of your situation.

One thing it could be? IF you have children/dependents, the Advanced Child Tax Credit was only for 2021 (so far), and the refund could be due to those extra credits...BUT those credit $$ aren't included in guesstimates for next year's taxes...and if everything else remains the same, you might owe over $1000 next year....based on everything else being the same for 2022.

IF you don't believe you really need the Estimated forms, you could ignore them since the IRS and State do not know they even exist...or perhaps, increase your paycheck withholding at work to make up for any guesstimated/possible shortfall for 2022.

Re: Estimated payments

MayaD — Fri, 18 Mar 2022 17:11:35 GMT

Do you have self employment Income? That could be the reason why TurboTax indicated that you may need to make estimated Payments.

If you receive income such as interest, dividends, alimony, self-employment income, capital gains, prizes and awards, you may have to make estimated tax payments.

Estimated Taxes