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The 1040ES vouchers are optional. She is not required to pay the quarterly tax amount on them. Under the current conditions in the economy, she can wait until later in 2020 to decide if she needs to pay any estimated tax for 2020. She should pay something if she expects to owe over $1000 at tax time in 2021 in order to avoid an underpayment penalty.
The 1040ES vouchers are optional. She is not required to pay the quarterly tax amount on them. Under the current conditions in the economy, she can wait until later in 2020 to decide if she needs to pay any estimated tax for 2020. She should pay something if she expects to owe over $1000 at tax time in 2021 in order to avoid an underpayment penalty.
Who ARE you, xmasbaby0? I simply cannot thank you enough. Your answer was articulate and succinct, and you understood my question. After hours of searching online and trying to read the IRS info, I was near an emotional breakdown (as was my young daughter).
Thank you very, very much for your selfless assistance.
Be well.
Sincerely,
blondieisme
So glad to have helped! Stay safe and well!
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