- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
I am now retired, but will be getting retirement benefits which are already taxed. If I don't pull anthing out of my IRAs in 2018, I shouldn't have to pay estimated taxes for 2018 I would assume.
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
Still have questions?
Make a post