I am getting a federal refund for 2020, but Estimated Tax Vouchers for 2021 are showing up with my federal taxes when I review the forms before e-filing (text below). My tax is deducted at source and I haven't used estimated taxes before. Will it be reported to the IRS that I am going to make estimated payments? Or is it not reported and I can ignore the forms? I am not able to delete the forms.
Estimated Payments for 2021 - Do not mail these vouchers with your
Payments to | 2020 income tax return. The estimated vouchers displayed below are
Make for Next | used to prepay your 2021 income taxes that will be filed next year.
Year's Return | If you expect to owe more than $1,000 in 2021, you may incur
| underpayment penalties if you do not make these four estimated tax
| payments. This printout includes your estimated tax vouchers for your
| federal estimated taxes (Form 1040-ES).............
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The 1040ES are estimates for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.
If you are receiving a refund or low tax due and TurboTax prepared the vouchers then your tax liability was probably reduced by credits.
TT2021 reports a federal refund of $1,046.
TT2021 printed four quarterly vouchers to mail in the amount of $257 each.
This cannot be explained away by my use of credits (which were only $150).
It is a problem with your software and you should admit it and fix it.
Along with the failure to give credit for the charitable cash contributions I made with the Standard Deduction I have lost faith in Turbo Tax after (probably) 20 years of being a loyal customer.
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