Question

My spouse and I owe when filing our taxes due to retirements withdrawals. We are paying the balance due in full but docs show estimated tax payment vouchers for 2021?

Forum|Forum|5 years ago
March 2, 2021
1 reply
0 views

Do I have to make these payments? We are not withdrawing again from our retirement account this year. Is this because we owe more taxes this year? We are paying all taxes due in full this year.

TurboTax Deluxe Online

ColeenD3

No, this happens just in case that you will have the same situation next year.

D

deppAuthor

Thanks!

O

Opus 17

Employee

Turbotax will sometimes prepare vouchers for next year's estimated taxes if you owed tax this year. Making the payments may help you avoid penalties next year. If you make other arrangements to pay your taxes, or you know your tax situation will be different, you don't have to use the vouchers.