1325885
You'll need to sign in or create an account to connect with an expert.
If you had a balance due on your return of $1,000 or more on your federal, you will need to begin making estimated tax payments. If not, you may disregard. Below is some information regarding estimated payments:
If you are receiving a refund or low tax due and TurboTax prepared the vouchers then your tax liability was probably reduced by credits. Your Tax Liability is the amount on 1040 line 12b. It is the tax you owe on your income. But you might qualify for credits that can reduce your tax due or even give you a refund.
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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
moinulk2011
New Member
howellw
New Member
madj2025
Level 1
in [Event] Ask the Experts: Self-Employed Quarterly Estimate Filing
amyb5984
New Member
angelica-villegas
New Member