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Why is state tax due in quarterly payments? i want to pay in one lump sum but can't find this as an option (Virginia)

 
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Why is state tax due in quarterly payments? i want to pay in one lump sum but can't find this as an option (Virginia)

Those are NOT for your state tax due.  Those are estimated prepayments for NEXT year so you don't owe again.  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. 

You should have a separate payment voucher for the tax due.  Or you set it up to come out of your bank account.

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2 Replies

Why is state tax due in quarterly payments? i want to pay in one lump sum but can't find this as an option (Virginia)

Those are NOT for your state tax due.  Those are estimated prepayments for NEXT year so you don't owe again.  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. 

You should have a separate payment voucher for the tax due.  Or you set it up to come out of your bank account.

Why is state tax due in quarterly payments? i want to pay in one lump sum but can't find this as an option (Virginia)

What are estimated taxes?

https://ttlc.intuit.com/replies/3301588

How do I make estimated tax payments?

https://ttlc.intuit.com/replies/3301258

 

Can TurboTax calculate next year's federal estimated taxes?

https://ttlc.intuit.com/replies/4242911

 

Can TurboTax calculate the estimated payments for next year's state taxes?

https://ttlc.intuit.com/replies/3301735

 


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