This year for the first time EVER I owe taxes. When I just went to print the payment voucher the voucher shows two different payment amounts. Why?

[Lisa995]

The voucher itself shows 2 amounts on it?

[sickofit7]

There are like 4 sections. On 2-3 of the sections it shows one amount. On the last it shows the amount Turbo Tax said I owed which of course is less than the amount listed in the previous sections.

[VolvoGirl]

Did you get the 4 1040ES slips?  Those are not for your tax due.  Those are 1040ES quarterly estimated payments for NEXT YEAR.  They are pre-payments so you don't end up owing again next year.  They are optional to pay and don't get sent with your return.

Only the 1040V is the current year tax due.  Unless you selected the IRS to Debit your bank account.

[sickofit7]

Thanks VolvoGirl. Yes that’s what I got. I was highly confused as they had different due dates. I’m still trying to figure out how the government figures I would end up owing even more next year than what I’m having to pay this year. Like 4 times more!!!!  I shouldn’t owe anything this year. I still can’t figure out why I even have to pay now but that’s another story.

[VolvoGirl · Accepted solution]

Turbo Tax is very conservative and doesn't want you to owe next year.  They might have printed out if you got a big one time increase in income.   like if you took a IRA or 401K Withdrawal or had a big stock gain.  They are optional to pay.  They don't get sent in with your tax return so the IRS won't be expecting them.  You can ignore them.

You might want to adjust your withholding at work so you won't owe too much next year.  They don’t get sent with your tax return so the IRS or state won’t be expecting them.

For this year they reduced the withholding tables so they didn't take out enough.  So you got more back in your paychecks all year.  Or did you have a one time increase in income for something?