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The Form 1040-ES vouchers do not only relate to self-employment income. Whenever there is a tax due on a return, TurboTax will print an estimated tax voucher as a courtesy to mail a payment to the applicable Internal Revenue Service (IRS) campus.
If you are entitled to a refund, you should ignore the voucher. Otherwise, you can utilize the IRS Electronic Federal Tax Payment System (EFTPS) to schedule your estimated tax payments rather than submit a paper voucher. Please note an enrollment process is required to access the system.
that should have been provided in the chat while I was on-line. to have the person that I'm looking to for answers, respond with "I don't know".... "could be this..." is VERY frustrating.
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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