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My federal & state returns were refunds. Your summary printed page shows that I should send in quarterly estimated payments. Why is this?

 
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KarenM90
Intuit Alumni

My federal & state returns were refunds. Your summary printed page shows that I should send in quarterly estimated payments. Why is this?

Estimated tax payments may print out if you are self-employed, your income increased significantly, or you made estimated payments in a prior year.  

 

Here is a link with more details:  Estimated payment vouchers.

 

You are not required to make the estimated payments, they are a "suggestion" to help keep you penalty proof.

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2 Replies
KarenM90
Intuit Alumni

My federal & state returns were refunds. Your summary printed page shows that I should send in quarterly estimated payments. Why is this?

Estimated tax payments may print out if you are self-employed, your income increased significantly, or you made estimated payments in a prior year.  

 

Here is a link with more details:  Estimated payment vouchers.

 

You are not required to make the estimated payments, they are a "suggestion" to help keep you penalty proof.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My federal & state returns were refunds. Your summary printed page shows that I should send in quarterly estimated payments. Why is this?

Thank You,

I had the same issue after I took a one time early withdraw from my 401k.  I usually get about 2K back, but this year only a few hundred.  TT suggested $500 quarterly payments.  If I did I would probably get back 4K next year.  Shred those suckers I say!

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