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My Payment Vouchers do not match my installment agreement request.

Forum|Forum|6 years ago
June 8, 2019
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Best answer by xmasbaby0

No, they do not match your installment payments because those 1040ES vouchers are NOT for your installment plan to pay 2018 tax due. Those are for paying optional estimated 2019 quarterly payments. They are not for paying anything you owed for 2018.

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xmasbaby0Answer

Employee

No, they do not match your installment payments because those 1040ES vouchers are NOT for your installment plan to pay 2018 tax due. Those are for paying optional estimated 2019 quarterly payments. They are not for paying anything you owed for 2018.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Critter

Employee

What are estimated taxes?

https://ttlc.intuit.com/replies/3301588

Do I need to make estimated tax payments to the IRS?

PAYING ESTIMATES
For SE self employment tax - if you have a net profit (after expenses) of $400 or more you will pay 15.3% for 2015  SE Tax on 92.35% of your net profit in addition to your regular income tax on it. So if you have other income like W2 income your extra business income might put you into a higher tax bracket.

You must make quarterly estimated tax payments for the current tax year (or next year) if both of the following apply:
- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.

- 2. You expect your withholding and credits to be less than the smaller of:
    90% of the tax to be shown on your current year’s tax return, or
  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)

https://ttlc.intuit.com/replies/3301891