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Do you mean your 1040-E payments (Estimated payments)? The 1040-V payment is for taxes you owe this year (2018), if you do owe taxes for 2018 & do not pay them, then you will incur a penalty & interest until they are paid in full.
If you are self-employed, or if you have income other than your salary, you may need to pay estimated taxes each quarter to square your tax bill with Uncle Sam. You may owe estimated taxes if you receive income that isn't subject to withholding, such as:
You could end up owing the IRS an underpayment penalty in addition to the taxes that you owe. The penalty will depend on how much you owe and how long you have owed it to the IRS.
That depends on your situation. The rule is that you must pay your taxes as you go.
If at filing time, you have not paid enough income taxes through withholding or quarterly estimated payments, you may have to pay a penalty for underpayment.
To determine whether you need to make quarterly estimates, answer these questions:
If you answered "no" to all of these questions, you must make estimated tax payments using Form 1040-ES. To avoid a penalty, your total tax payments (estimated taxes plus withholding) during the year must satisfy one of the requirements we just covered.
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