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As part of my tax return, I was given payment vouchers for next year. I have no idea why I need these vouchers.

1040-ES Payment voucher.

Our employers calculate the tax for the year, so we don't know why we would have a penalty.
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1 Reply
KaseyD
New Member

As part of my tax return, I was given payment vouchers for next year. I have no idea why I need these vouchers.

When you finalized and filed your return TurboTax automatically generated the payment vouchers if you didn't pay or had enough taxes withheld in 2015. We do this to head off a possible underpayment penalty on next year's taxes. 

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. 

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.

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