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New Member
posted Jun 3, 2019 11:46:04 AM

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.

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1 Best answer
New Member
Jun 3, 2019 11:46:06 AM

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.

3 Replies
New Member
Jun 3, 2019 11:46:06 AM

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.

New Member
Jun 3, 2019 11:46:07 AM

I file estimated payments ONLINE. I DON'T want to print these forms as they are totally useless. I can NOT find a way to remove them so now I have to save a .pdf and manually skip them in the printing. TOTAL waste of my time. Ink and paper costs $$$ so your answer of 'shred them' is not acceptable.

New Member
Jun 3, 2019 11:46:08 AM

What if I received the 1040-ES vouchers but neither of those conditions you mention apply?  The only thing different this year for me was I filed jointly w/ my wife.