Why is my federal tax return including payment vouchers for 2020?

[TomK100]

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.

[Edited 1/30/20 | 2:21 PST]

[VictoriaD75]

If you had a balance due over $1,000, you will be expected to make estimated tax payments. 

The tricky part is estimating income and tax liability before the income is earned, especially for self-employed taxpayers.

If you pay 100% of last year's tax liability (line 16 of your 2019 1040), you can avoid penalties. Simply take the amount from your return, divide by four, and make four equal payments.

However, if your adjusted gross income (AGI) was greater than $150,000, that estimate must be 110% of last year's tax liability.

You can also pay 90% of this year's tax liability to avoid penalties. This is more difficult to estimate, as you need to determine what that amount will be.

Estimated Tax Payments

IRS Estimated Taxes

Estimated Taxes: How to Determine What to Pay and When