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New Member
posted Mar 2, 2021 9:59:13 AM

My spouse and I owe when filing our taxes due to retirements withdrawals. We are paying the balance due in full but docs show estimated tax payment vouchers for 2021?

Do I have to make these payments? We are not withdrawing again from our retirement account this year.  Is this because we owe more taxes this year?  We are paying all taxes due in full this year.

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3 Replies
Expert Alumni
Mar 2, 2021 10:18:20 AM

No, this happens just in case that you will have the same situation next year.

Level 1
Mar 5, 2021 7:46:12 AM

Thanks!

Level 15
Mar 5, 2021 7:57:15 AM

Turbotax will sometimes prepare vouchers for next year's estimated taxes if you owed tax this year.  Making the payments may help you avoid penalties next year.  If you make other arrangements to pay your taxes, or you know your tax situation will be different, you don't have to use the vouchers.