How to generate Form 1040-ES estimate vouchers in ProConnect Tax

How do I generate Form 1040-ES estimate vouchers?

1. Go to Input Return ⮕ Payments, Penalties, and Extensions ⮕ 20YY Estimates/W-4, W-4P ⮕ 20YY Estimated Taxes (1040-ES).
2. Scroll down to General Information.
3. Select the Estimate options (Click on arrow to select from list) [Override]
    drop down menu.
4. Select the option for calculation you wish to use.
5. If using options 2-7, go to the Federal  Worksheet tab and enter any necessary adjustments for estimating next year's tax liability.

Estimates set to be paid electronically won't produce Form 1040-ES. Instead, ProConnect will generate an E-File Payment record for each withdrawal.

How do I print blank 1040-ES vouchers?

1. Go to Input Return ⮕ Payments, Penalties, and Extensions ⮕ 20YY Estimates/W-4, W-4P ⮕ 20YY Estimated Taxes (1040-ES).
2. Scroll down to General Information.
3. Select the Estimate options (Click on arrow to select from list) [Override] drop down menu.
4. Select 8=Print blank estimates.

This option allows you to print blank voucher forms so that you or your client can manually write an amount on them. It removes the "Do not file" watermark that typically prints on blank forms, and produces a 2D barcode so that the mailed vouchers can be processed by the IRS.

Who needs to pay estimated taxes?

In most cases, your client must pay estimated tax throughout the year if both of the following apply:

1. After withholding and refundable credits, they still expect to owe $1,000 or more in tax next year.
2. You expect their withholding and refundable credits to be less than the smaller of:
   • 90% of the tax on next year's return, or
   • 100% of the tax on this year's return.

High income taxpayers and farmers are subject to different rules. By default, ProConnect Tax will generate estimates for returns that meet any of these conditions.