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While viewing final documents, I saw Estimated payment vouchers. what are these for?

I dont understand what those Estimated tax payment vouchers are for?
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While viewing final documents, I saw Estimated payment vouchers. what are these for?

HelenC12
Expert Alumni

While viewing final documents, I saw Estimated payment vouchers. what are these for?

We'll automatically include four quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

 

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

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