To determine the amount of estimated payments you should be making, you will need to fill out Form 1040-ES. Please note that this form is NOT available within the program, it will have to be filled out manually.
Sometimes taxpayers elect to or are required to make estimated payments to the IRS throughout the year in expectation of the following year's tax liability. If your return this year results in an amount due, you may want to consider either:
- Having your employer withhold more taxes from your pay check each pay period; OR
- Making quarterly estimated payments to the IRS throughout the year.
If you already make estimated payments throughout the tax year, or plan on doing so in the upcoming tax year, you can easily prepare your payment vouchers for mailing within your account.
To prepare the estimated payment vouchers in your account after manually completing Form 1040-ES, select:
- Federal Section
- Payments and Estimates
- Vouchers for Next Year's Estimated Payments
Enter the amounts that you expect to pay for each quarter (April 15th, June 15th, September 15th, and January 15th).
When you print a copy of your return, the payment voucher(s) will print for each expected estimated payment that was entered. You may track information such as: the date the payment was sent and the check number and amount of the payment.
NOTE: Entering amounts in the section for Vouchers for Next Year's Estimated Payments will not set up your payments to be electronically debited by the IRS. Entering this information will allow the program to populate the payment vouchers to print for mailing. You would need to mail in your estimated payments throughout the year.
- Print Return
- Print Federal
Estimated payment vouchers for individual states are found within the State Section for your state. Generally the form is found under Miscellaneous Forms.