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RETURN WITH PAYMENT FORM Q1 1264 QUARTERLY ESTIMATE MAKE CHECK OR MONEY ORDER TO: VILLAGE OF PRESTON PAID CHECK WILL BE YOUR RECEIPT MAIL TO Village of Preston P. O. Box 194 100 N. Main St. Preston

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How to fill out 2013 quarterly estimated payment

How to fill out 2013 quarterly estimated payment:

01

Determine if you are required to make estimated tax payments. Generally, if you expect to owe at least $1,000 in taxes for the year, you may need to make quarterly estimated payments.

02

Calculate your estimated tax liability for the year using the appropriate IRS form or online calculator.

03

Divide your estimated tax liability by four to determine the amount you should pay each quarter.

04

Complete the IRS Form 1040-ES, which is the worksheet and voucher for making estimated tax payments. Provide your personal information, estimate your income, deductions, and credits for the year, and calculate the amount you owe for each quarter.

05

Make sure to sign and date the form before mailing it to the designated IRS address for your region.

06

Use one of the available payment methods, such as sending a check or money order along with the voucher, making an electronic payment through IRS Direct Pay, or setting up an Electronic Federal Tax Payment System (EFTPS) account.

07

Keep a record of your estimated tax payments for your own reference and for future tax filing purposes.

Who needs 2013 quarterly estimated payment?

01

Self-employed individuals who expect to owe $1,000 or more in taxes for the year.

02

Individuals with significant income not subject to withholding, such as rental income, investment income, or freelance earnings.

03

Individuals who had a tax liability in the previous year and expect it to be the same or higher in 2013, but don't satisfy the safe harbor requirement through withholding.

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