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New Member
posted May 31, 2019 11:34:26 PM

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 Replies
New Member
May 31, 2019 11:34:28 PM

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.