Get the free QUARTERLY PAYMENTS OF ESTIMATED TAX - ci athens oh

CITY OF ATHENS, OHIO QUARTERLY PAYMENTS OF ESTIMATED TAX 2ND QUARTER 2013 PAID CHECK WILL BE YOUR RECEIPT DO NOT REMIT CASH BY MAIL NAME(S) AND ADDRESS: DUE DATE B ACTS 06-15-2013 R ACTS 07-31-2013

How to fill out quarterly payments of estimated

Point by point guide on how to fill out quarterly payments of estimated:

Determine if you are required to make quarterly payments:

1. Check if you meet the criteria set by the tax authorities for making estimated payments.
2. Typically, individuals who expect to owe at least a certain amount in taxes, usually $1,000 or more, and don't have sufficient withholdings may need to make quarterly payments.
3. Consult the guidelines provided by your local tax authority to confirm if you are required to make estimated payments.

Calculate your estimated tax liability:

1. Estimate your total income for the year, including any earnings from self-employment, investments, or other sources.
2. Subtract any deductions, exemptions, or credits you may qualify for.
3. Use the tax rates applicable to your income level to calculate your estimated tax liability.
4. Consider any applicable state or local taxes that you need to include in your estimate.

Determine the due dates for your quarterly payments:

1. Check the tax agency's guidelines or consult a tax professional to find out the specific due dates for making quarterly payments.
2. In the United States, for example, estimated tax payments are generally due on April 15, June 15, September 15, and January 15 of the following year.
3. It is essential to meet these deadlines to avoid penalties and interest on underpaid taxes.

Complete the appropriate tax forms:

1. Obtain the necessary tax forms, such as Form 1040-ES or any equivalent form provided by your local tax authority.
2. Fill out the required information accurately, including your personal details, estimated income, deductions, and credits.

Calculate the amount to pay for each quarter:

1. Divide your estimated tax liability by four to determine the amount to pay each quarter.
2. It's crucial to ensure that your total estimated payments for the year match or exceed your estimated tax liability to avoid penalties.

Make the payments:

1. Pay your estimated taxes using the approved payment methods.
2. Depending on your tax authority, you may be able to pay online, through direct debit, or by mailing a check.
3. Keep records of your payments, including dates, amounts, and confirmation receipts.

Who needs quarterly payments of estimated?

1. Self-employed individuals: Freelancers, independent contractors, or business owners with self-employment income often need to make quarterly estimated tax payments since they don't have taxes withheld from regular paychecks.
2. Investors: Individuals who earn substantial income from investments, such as dividends, interest, or capital gains, may need to make quarterly payments to cover their tax liabilities on this income.
3. High-income earners: Individuals with significant salaries or wages may need to make quarterly estimated tax payments if their withholdings are not sufficient to cover their tax liability or if they have additional income not subject to standard withholding, such as rental income.
4. Those with significant non-wage income: If you receive income from rental properties, royalties, or other sources not subject to regular withholding, you may be required to make quarterly payments.

It's crucial to consult with a tax professional or refer to your local tax authority's guidelines to determine if you need to make quarterly payments of estimated taxes. Avoiding quarterly payments when required may result in penalties and interest on underpaid taxes.

For pdfFiller’s FAQs

How do I fill out the quarterly payments of estimated form on my smartphone?

You can quickly make and fill out legal forms with the help of the pdfFiller app on your phone. Complete and sign quarterly payments of estimated and other documents on your mobile device using the application. If you want to learn more about how the PDF editor works, go to pdfFiller.com.

How do I edit quarterly payments of estimated on an iOS device?

No, you can't. With the pdfFiller app for iOS, you can edit, share, and sign quarterly payments of estimated right away. At the Apple Store, you can buy and install it in a matter of seconds. The app is free, but you will need to set up an account if you want to buy a subscription or start a free trial.

How do I fill out quarterly payments of estimated on an Android device?

Use the pdfFiller Android app to finish your quarterly payments of estimated and other documents on your Android phone. The app has all the features you need to manage your documents, like editing content, eSigning, annotating, sharing files, and more. At any time, as long as there is an internet connection.

What is quarterly payments of estimated?

Quarterly payments of estimated are payments that individuals and businesses make to the IRS four times a year to cover their tax liabilities.

Who is required to file quarterly payments of estimated?

Individuals and businesses with income that is not subject to withholding are required to file quarterly payments of estimated.

How to fill out quarterly payments of estimated?

Quarterly payments of estimated can be filled out using IRS Form 1040-ES and submitting the payment either online or through mail.

What is the purpose of quarterly payments of estimated?

The purpose of quarterly payments of estimated is to help taxpayers avoid underpayment penalties by paying their taxes throughout the year.

What information must be reported on quarterly payments of estimated?

Quarterly payments of estimated require taxpayers to report their income, deductions, credits, and any prepayments made towards their tax liability.