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Returning Member
posted Apr 14, 2021 9:20:07 PM

I don't believe I need to pay estimated tax for 2021 even though TurboTax said so when I filed my 2020 tax

I never had to pay any estimated tax since my employee withholds tax every year. 2020 is the 1st year that I need to pay <$1000 federal tax. When I filed my tax for 2020 with TurboTax, it automatically generated 1040-ES for me. I don't believe I need to pay the quarterly estimated tax since my employee is withholding tax on my W4. What can I do to make sure I don't need to pay 1040-ES?

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2 Replies
Level 15
Apr 14, 2021 10:00:51 PM

All you need to know and more about estimates is here

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

Level 15
Apr 15, 2021 5:24:05 AM

You dpn't have to pay attention to those vouchers if you don't want to.