When I finished my Federal and State Taxes, I had a sizable refund coming back and asked that part of it be applied to 2017 and was informed that I would not pay any estimated taxes this year. Is that correct?
Yes, if you’re at risk for an underpayment penalty next year, based on your 2016 information, we’ll automatically calculate estimated tax payments and prepare 1040-ES vouchers for you. The same applies to estimated payments for state taxes.
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