Just completed my 2020 taxes, but I find it odd that TurboTax is telling me that I need to make only three estimated state tax payments for 2021. TurboTax says I need to make payments on 4/15/2021, 6/15/2021, and 1/15/2022, but not on 9/15/2021. My state is California. I've never seen this before. Is this a bug?
For Federal estimated tax payments, TurboTax says I need to make the usual four payments, as expected.
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No, it is not a bug in TurboTax. Per the 2021 Instructions for Form 540-ES, installments due shall be 30% of the required annual payment for the 1st required installment, 40% of the required annual payment for the 2nd required installment, no installment is due for the 3rd required installment, and 30% of the required annual payment for the 4th required installment.
No, it is not a bug in TurboTax. Per the 2021 Instructions for Form 540-ES, installments due shall be 30% of the required annual payment for the 1st required installment, 40% of the required annual payment for the 2nd required installment, no installment is due for the 3rd required installment, and 30% of the required annual payment for the 4th required installment.
Thank you, Lena. And shame on me for not reading the instructions for form 540-ES. Your answer is much appreciated.
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