Are estimated taxes required?

[rmsware]

Turbo tax included estimated payments for 2019.  I've never filed estimated taxes before.  Am I required to file estimateds?

[Ashby · Accepted solution]

You are not required to file estimated taxes, but may be subject to an underpayment penalty if you do not.

Since the penalty is relatively benign, some taxpayers chose to pay their liability at the end of the year including the underpayment penalty.

The smartest thing you can do is adjust your W-4 exemptions so that enough money is withheld out of your paycheck to cover your taxes.