Individual Income Tax Return', Form 1040-ES
, Estimated Tax for Individuals', Form 1040X, Amended U.
For income that is not subject to withholding, you may be required to make estimated tax payments on Form 1040-ES
in order to avoid penalties.
Though filing volumes of Form 1040-ES
are declining, the form still represents the third largest share of the 2011 grand total.
Individual Income Tax Return, Form 1040-ES
, Estimated Tax for Individuals, and Form 4868, Application for Automatic Extension of Time to File U.
Or if you expect to be earning less money this year, you can use the worksheet included in Form 1040-ES
to make a more accurate estimate.
represents the third largest share of the 2009 grand total.
Practice tip: The instructions for the 2009 Form 1040-ES
, Estimated Tax for Individuals, have not been updated to reflect the changes made by the ARRA.
For example, the client may need to make a lump-sum estimated tax payment with Form 1040-ES
, Estimated Tax for Individuals.
These differences included the fact that estimated tax payments are paid quarterly with Form 1040-ES
, while extension payments are made at the return's due date and constitute an attempt to estimate a taxpayer's total income tax liability.
In 2004 and 2005, Form 1040-ES
makes up the third largest share of the grand total.