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22hocks
New Member

You show me needing to pay estimated tax for next year. I have increased my withholding for next year. Am I required to pay estimated or is it optional?

 
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bwa
Alumni
Alumni

You show me needing to pay estimated tax for next year. I have increased my withholding for next year. Am I required to pay estimated or is it optional?

The Forms 1040-ES are printed for your convenience.  No data on them is sent to the IRS.  If you don't think you need them, just throw them away.

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2 Replies
bwa
Alumni
Alumni

You show me needing to pay estimated tax for next year. I have increased my withholding for next year. Am I required to pay estimated or is it optional?

The Forms 1040-ES are printed for your convenience.  No data on them is sent to the IRS.  If you don't think you need them, just throw them away.

MichaelL1
Level 15

You show me needing to pay estimated tax for next year. I have increased my withholding for next year. Am I required to pay estimated or is it optional?

If you have increased the withholding enough to offset what the estimated payments would have been you are fine.

TurboTax was doing the estimates so next year, you would not get caught with an estimated tax payment penalty.  Paying in additional taxes through an employer can eliminate this. 

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