Solved: In my tax form paperwork, there are forms to pay quarterly taxes. do I have to start doing that, or can I increase my witholdings on my checks to cover this for next yea
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In my tax form paperwork, there are forms to pay quarterly taxes. do I have to start doing that, or can I increase my witholdings on my checks to cover this for next yea

 
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New Member

In my tax form paperwork, there are forms to pay quarterly taxes. do I have to start doing that, or can I increase my witholdings on my checks to cover this for next yea

TurboTax automatically includes 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You're not required to make estimated tax payments; it's just a suggestion based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

And Yes, you can absolutely change your withholding from your paychecks instead.  Follow the directions in the FAQ below for help in how to change/update your W-4: https://ttlc.intuit.com/replies/3301783

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New Member

In my tax form paperwork, there are forms to pay quarterly taxes. do I have to start doing that, or can I increase my witholdings on my checks to cover this for next yea

TurboTax automatically includes 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You're not required to make estimated tax payments; it's just a suggestion based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

And Yes, you can absolutely change your withholding from your paychecks instead.  Follow the directions in the FAQ below for help in how to change/update your W-4: https://ttlc.intuit.com/replies/3301783

View solution in original post

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