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I have a federal payment $3,800. Turbotax has created 4 Vouchers with a $2,195 payment each. What is going on?
VolvoGirlAnswer
Level 15
June 8, 2020
Those 1040ES vouchers are not for your tax due. The 1040ES are for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.
Your tax due is on a 1040V or you selected to have the IRS directly Debit your bank account.
