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Why do I have to fill out a Estimated Tax Worksheet with this years taxes?

 
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Why do I have to fill out a Estimated Tax Worksheet with this years taxes?

Why did 1040-ES estimated tax vouchers print out? Do I need them?

TurboTax automatically includes 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. They 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; TurboTax just suggests it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

Do I need to make estimated tax payments to the IRS?

https://ttlc.intuit.com/community/tax-payments/help/do-i-need-to-make-estimated-tax-payments-to-the-...

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1 Reply

Why do I have to fill out a Estimated Tax Worksheet with this years taxes?

Why did 1040-ES estimated tax vouchers print out? Do I need them?

TurboTax automatically includes 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. They 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; TurboTax just suggests it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

Do I need to make estimated tax payments to the IRS?

https://ttlc.intuit.com/community/tax-payments/help/do-i-need-to-make-estimated-tax-payments-to-the-...

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