Estimated Taxes in AZ not being generated due to Overpayment
I'm a bit confused with estimated payments in AZ. Usually Turbotax would generate 4 Form 140ES vouchers. This time around I had a large overpayment in state tax.
I chose 100% of my 2024 estimated tax and checked the Apply None option for my tax overpayment. TurboTax gave me a screen that said No Estimated Payments required for 2024. I'm confused because I thought if I made over $75,000 I have to pay estimated taxes regardless? Won't I get hit with a penalty for not paying them? Is this just a TurboTax bug?