Question

Why did I receive a Form PB (502D)?

Forum|Forum|5 years ago
February 16, 2021
1 reply
0 views

I received four FORM PV (502D). I don't need to pay estimated taxes for 2021 so I don't know why these are in my documents.

TurboTax Deluxe Online

N

npierson777

If you don't need to pay estimated taxes, you can ignore the form.

M

melissap21702Author

So I assume that TurboTax just provides them as a courtesy vs. them being an actual requirement for payment. They are not sent to my State with my other tax forms? Is that correct.

DawnC

Employee

That is correct. We'll automatically include four quarterly payment vouchers (PV) with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

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