I don't want to pay estimated tax. Why are form 1040-ES payment vouchers in my return? Just a courtesy in case I want to use them?

[Doc5108 · Accepted solution]

Those Estimated Vouchers 1040-ES are Not Mandatory.  They are Not sent to the IRS and are for your information only.  TurboTax calculates those based on this years tax return.  So, If you feel comfortable about not owing way too much next year then you can just Ignore those vouchers.  Like I said the IRS does Not get a copy.

The issue is will you Owe less than $1,000 to the IRS in taxes Next Year.  Please see this IRS Topic 306 http://www.irs.gov/taxtopics/tc306.html for a more in-depth answer.

Hope this helps.

[WitchHazel]

Correct, not mandatory.  And it's a good thing.

I too don't pay estimated, and usually I tell the program NOT to produce the vouchers, because they are always wrong.  This year, I guess I forgot so I got the vouchers. Still wrong. Don't ever rely on them.  Somehow TurboTax figures that even though I got fed and state refunds of more than $1300, I should be paying estimated?

[VolvoGirl]

If you are receiving a refund or low tax due and TurboTax prepared the vouchers then your tax liability was probably reduced by credits. Your Tax Liability is the amount on 1040 line 16. It is the tax you owe on your income. But you might qualify for credits that can reduce your tax due or even give you a refund. Credits are on Schedule 3.