Question

Do i need to pay penalty for estimated taxes 2017?

Forum|Forum|7 years ago
June 5, 2019
1 reply
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I just finished filing yesterday after receiving all my tax documents. I did file an extension. I am due for a refund for 2016 tax year. I just received the vouchers for estimated tax. I am past due for 4/18 deadline. Do I owe penalty?

TurboTax Premier Online

VolvoGirl

Employee

No. You don't have to pay those. You can ignore them. The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. They DO NOT get sent to the IRS or state with your return.

If you are receiving a refund and TurboTax prepared the vouchers then your tax liability was probably reduced by credits.