Not necessarily. Did you wind up owing $1000 or more for 2016? If so, it's possible that you would need to make estimated tax payments for 2017 in order to avoid a penalty next year. If your situation is the same for 2017 as it was for 2016, you should consider making these payments with the 1040ES vouchers.
If you respond here with specifics about your situation I may be able to give you more detailed advice.
I'm getting a refund back in federal and state so why would four 1040es vouchers print out
Is there an amount printed on them for you to pay? Did you pay estimated tax last year? If not, ignore them even if they did print out.
Its got 1,038 printed in the corner very small but I didn't have to pay in the last three years.
My income is the same every year 33,000 and with held 3,300 in federal every year
In the situation you describe, there is no reason for you to pay estimated taxes. As long as your withholding and income remain the same you can ignore the 1040ES. If for some reason your income goes up or your situation changes, you would change your W-4 with your employer, not start paying estimated taxes.
So it's a possible that this is an error. Have u ever seen this happen before and a client didn't have to pay those voucher
It's likely that it is an error. I don't know if at one point in the preparation of your return you looked at the estimated tax section, but it's possible that generated the vouchers. But again, if your income and withholding is the same or close to the same every year and nothing will change this year as far as you know, then the vouchers aren't necessary, and you should ignore them, regardless of why they were generated by the program.
Not necessarily. Did you wind up owing $1000 or more for 2016? If so, it's possible that you would need to make estimated tax payments for 2017 in order to avoid a penalty next year. If your situation is the same for 2017 as it was for 2016, you should consider making these payments with the 1040ES vouchers.
If you respond here with specifics about your situation I may be able to give you more detailed advice.
I have a similar situation. I am paying $2000 in 2016 and Turbo issued vouchers totally $4000. In 2016 I cashed in stocks to pay for my daughters college. I would not do that again in 2017....1st time being asked to prepay taxes...appreciate any help
Evening:
In 2022 I made 2 of the 4 estimated 1040es payments. In 2023, my financial situation changed, and I was no longer bringing home as much income. How do I add the 2 1040es payments to my tax return for 2023?
you can't. we know nothing of your 2022/2023 situation. Did you file for 2022? if not, file then if you're due a refund you'll get it but it may take a while because the return can not be e-filed nor prepared online. even if you had a loss for 2023, under current tax rules the loss can only be carried forward. I will add that you can call the IRS to move 2022 estimated tax payments to 2023 but it's unlikely they'll do this unless you filed 2022 or there's a balance due for 2022 if you filed. the only way to find out is to call.
1. Call 1-800-829-1040 between the hours of 7:00 AM – 7:00 PM local time.
2. Press “1” for English or “2” for Spanish.
3. Press “2” for “answers about your personal income taxes.”
4. Press “1” for “questions about a form you have already submitted or a payment or to order a tax transcript.”
5. Press “3” for “all other questions about your tax history or payment.”
6. Press “2” for “all other questions about your tax history or payment.”
7. Do not input your Social Security Number when the recording tells you to.
8. Press “2” for “personal- or individual-tax related question.”
9. Press “3” for “all other inquiries.”
10. Wait to be connected to someone at the IRS.