Ok this is a stupid question. I've filed my taxes for many years using various online tax preparation sites. This year and last year, we owed money but not enough to have to pay a penalty.
I was printing my forms for turbotax and one of the things included was 'estimated taxes vouchers'. I've never done estimated taxes and the vouchers don't even closely match what we pay in taxes per year. Our taxes our deducted through our paycheck. Also, turbotax didn't indicate 'since you owed money, you have to do estimated taxes' or anything like that.
Does anyone know if turbotax automatically does these estimated tax vouchers for the **** of it or should I try to figure if there is a real reason that they would do it? If we actually did do the vouchers and kept our deductions the same through our employers, then we would actually end up paying too much taxes and get a refund next year (which is not what we want).
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Nelie, a search on google turned up a couple of complaints about this, and it appears as if TT just prints those sheets out automatically for anyone who owes any tax at all. Sounds like it's meant to be an "improvement" to the software, but probably just ends up confusing people more than anything.
My dh does estimated tax vouchers quaterly b/c he runs his own business and does not want to get hit at the end of the year. I do not think it is necessarily required of anyone.
Me too -- I own my own business and have to/should file them quarterly -- never heard of anyone with an employer doing them, what's the point if your taxes are already being taken out. If I under pay I could be penalized, but have never been for over eight years. Heck, there are years I've only made two payments and no one seems to care (they always get their money in the end). I would think the program is just being stupid!!
Turbotax question! - Estimated tax vouchers
