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Level 1
March 24, 2025
Question

Estimated Taxes

  • March 24, 2025
  • 2 replies
  • 32 views

After calculating the estimated taxes due, only 1 voucher is prepared.  I wish to pay in 4 equal installments.  How do I direct TurboTax to do 4 vouchers

    2 replies

    Level 15
    March 24, 2025

    Four installments is not an option for federal tax due.  When those four 1040ES vouchers print out they are not for paying your current tax due.  They are for making estimated quarterly payments toward the tax for the upcoming year---2025 -- to help you avoid an underpayment penalty or big tax bill in 2026 when you prepare and file 2025.

     

     

    If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2025.

     

     

     If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website. 

     

    https://www.irs.gov/payments

     

     

    https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212

     

     

    https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-money-order/00/26403 

     

     

    To apply for a payment plan with the IRS

     

    Apply Online for a Payment Plan

     

     

    You must pay your state tax due using the state’s preferred method of receiving payment.  For most states that will be by making a payment to the state’s own tax website, or by mailing a check or money order.

     

     

    https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    SusanY1
    Level 15
    March 24, 2025

    For estimates for next year's taxes, if you've elected to apply your refund from this year toward those payments TurboTax does not have a way to adjust your remaining estimates in TurboTax online.  It applies your refund to as many periods as possible, and then creates the final voucher(s) for you.  

    If you're using desktop, you can adjust them by manually adjusting in Forms Mode. 

    If you want to break that fourth payment up throughout the year, you may, but if you're using TurboTax online you'll need to prepare form 1040-ES manually outside of the TurboTax program.  

    You can find the blank form HERE.
     

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