pay estimated taxes for next year

[tennisforme]

I OWE THE STATE $150 FOR 2021. TURBO TAX STATES I HAVE TO PAY QUARTERLY TAXES FOR NEXT YEAR? WHY DO I HAVE TO PAY THE ESTIMATED TAXES WHEN IT IS SO LITTLE?

[Mike9241 · Accepted solution]

did you pay estimated state taxes in 2021 or did you indicate that your withholding would decrease? it's impossible to answer your question unless we know the state and even then it may be difficult because we can't see your return.

[bluedeb · Accepted solution]

You are not obligated to pay the Estimated Tax payments.   TurboTax automatically include four 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 may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

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

[SweetieJean · Accepted solution]

Which state?