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vjacqmin
New Member

I changed my tax withholdings for this year to avoid underpayment; do I need to be concerned that the IRS will be waiting for vouchers for estimated payments?

I retired in 2016 and apparently not enough taxes were being withheld in 2017 from my annuity. I had a large tax balance due and TurboTax printed out quarterly vouchers for me to use to send in my tax. I chose instead to change my monthly tax withholding. I am concerned that IRS may be waiting for my quarterly vouchers since I had to pay a penalty for underpaid taxes in 2017.

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Rachel_W
Expert Alumni

I changed my tax withholdings for this year to avoid underpayment; do I need to be concerned that the IRS will be waiting for vouchers for estimated payments?

No, you do not need to be concerned that the IRS will be waiting for vouchers for your estimated tax payments.

The IRS doesn't care if you pay your taxes during the year through withholding or estimated tax payments, as long as the taxes are paid.  

The IRS is never "waiting" to receive your estimated payment vouchers, so you will never receive a notice or anything like that from the IRS regarding missing payments.  

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1 Reply
Rachel_W
Expert Alumni

I changed my tax withholdings for this year to avoid underpayment; do I need to be concerned that the IRS will be waiting for vouchers for estimated payments?

No, you do not need to be concerned that the IRS will be waiting for vouchers for your estimated tax payments.

The IRS doesn't care if you pay your taxes during the year through withholding or estimated tax payments, as long as the taxes are paid.  

The IRS is never "waiting" to receive your estimated payment vouchers, so you will never receive a notice or anything like that from the IRS regarding missing payments.  

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