Question

2023 federal tax estimated payments not calculated -- ball dropped

Forum|Forum|3 years ago
February 22, 2023
7 replies
0 views

Apparently, TurboTax omits calculating 2023 estimated taxes and preparing 1040-ES vouchers. This was calculated and prepared for NY state, but not for federal. Phone support informed me that TT was not "given access" to the federal 1040-ES worksheet for this year. I guess that's ok, but there was no warning or message, no note informing me to calculate this myself on the irs.gov site. I fear people will simply not make estimated tax payments if they use TT, thinking they just don't need to. they will then be hit with late payment penalties that will really be TT's responsibility. Also, that is part of what I paid for when I bought TT, and was offered a 20% off coupon that I can't used since I already filed. This is a pretty shocking oversight with absolutely no heads up given.

TurboTax Premier Online

SteamTrain

Employee

Unfortunately, you were given the wrong information.

The Federal estimated tax form preparation is still in the Federal tax preparation area,,,,and is in the exact same place it has been for quite a few years.

>"Federal" tax section

>>"Other Tax Situations" page ...just before the first Federal Review

>>>Scroll down to "Other Tax forms" and expand it.

>>>> select "Form W-4 and Estimated Taxes"

Then when you go in there you skip the W-4 and continue on thru preparing the Federal Quarterly Estimated tax forms.

______

It's been on that page in the software...like...forever.

____________

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Z

zv1Author

Possibly, but they did say this was a specific and new omission for the 2023 filing process with the online version of TT when filing electronically. I did see that and filled out my estimated 2023 income. TT did calculate quarterly estimates for state and included printable vouchers in my final pdf. It omitted mention of estimated taxes and did not produce printable 1040-ES forms with my 2022 filing. The impression this could leave someone who wasn't sure what they should pre-pay in 2023 would be that they should pay state and not federal estimates. This is worse than just a warning that TT omitted calculating federal estimates. The state quarterly estimates are based on the same AGI number I put in for federal. So, long story short, I did enter and ask it to calculate quarterly estimates for federal, and it just ignored that request. When I called and this was elevated to "tier 2" support, they told me they couldn't provide 2023 estimates due to not "receiving access to the IRS's 2023 estimated taxes worksheets." That doesn't sound like something someone would make up to get a customer off the phone.

VolvoGirl

Employee

My Desktop program automatically made federal estimated payments without me doing anything. But I will go in and refigure them. Had some extra income in 2022 so I can reduce them.

SteamTrain

Employee

Mine automatically prepares too....but I think (raw guess at this point) the trigger point for auto-prep may be whether the taxes owed is under $1000(?) for the current year .while ignoring any estimated taxes paid.

I always need to pay 3k-4k estimated taxes each year and come out around even....so ignoring those estimates paid I would have owed 3k-4k at tax time without them..so they autoprep without my doing anything to prompt their preparation. (But I also just shut them off, and pay what flat amounts I think I need to...electronically...online)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

VolvoGirl

Employee

And the IRS always sends me preprinted 1040ES forms in the mail with my ssn and name but no amount and envelopes. Very nice. I just need to write in the amount. Then it fits in the window envelopes.

Thanks for the help.

same problem with desktop. thanks for sharing.

AmyC

Employee

Estimated payments are in the program. The form was later being released by the IRS but has been released and you should have full access online and desktop.

Go to Other Tax situations
Other Tax Forms
Select W-4 and estimated taxes
Select prepare now
No to W-4
Prepare estimated taxes? Select Prepare Now
continue through the questions

You can choose to print the forms. The 1040-ES is not a part of your tax return since it does not affect your 2022 taxes. It is for your convenience.

The recalculated form shows up in your paperwork.

Below are some screenshots from the desktop version. Both step-by-step and Forms mode show the estimates.

@schoenfeldstuart

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5

56 2x4

I had to look for this too using the gaslighting-inspired advice provided in this thread. Found it. The software said it didn't print any vouchers because I didn't have to pay estimated taxes based on my information provided. BUT, I had to look for that statement. TurboTax should have notified me of this situation at the same location I would have otherwise found the printouts without me having to waste an evening hunting it down in the dusty corners of the program.

K

khnott

I second that comment. And worse, the "help" is a joke - it brings up a robo unit that does not even allow text input! So I cannot find where to calculate the estimated taxes ... if I wish to make different assumptions than TT apparently made when printing the ES forms. Where the heck did it get the numbers? I don't know.

V

Vicki2kids

Okay I goofed, I received and printed my tax return with the vouchers. I thought these vouchers were for my income tax due for 2022.

they were for estimated 2023 tax year.

is there any way to get the amounts transferred to my 2022 debt?