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! ! TIP Exception 1. Figuring your 2015 tax. Exception 2. Additional Medicare Tax. Net Investment Income Tax (IIT). Repayment of first time homebuyer credit. 2016 Estimated Tax Worksheet 1 2 Keep

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How to fill out 2016 form 1040-es

How to fill out 2016 form 1040-es:

01

Gather all necessary information and documents such as your Social Security number, income statements, and any deductions or credits you plan to claim.

02

Start by entering your personal information, including your name, address, and Social Security number, in the designated spaces on form 1040-es.

03

Calculate your estimated tax liability for the year by following the instructions on the form. This involves entering your expected income, deductions, and credits.

04

Determine the amount of estimated tax you are required to pay each quarter by referring to the Estimated Tax Worksheet provided with the form.

05

Fill out the payment vouchers included with form 1040-es to submit your estimated tax payments. Include your name, Social Security number, payment amount, and the tax year on each voucher.

06

Make sure to send your payment, along with the completed payment vouchers, to the appropriate address provided on the form.

07

Keep copies of all forms and payment records for your records.

Who needs 2016 form 1040-es:

01

Self-employed individuals who expect to owe at least $1,000 in federal taxes for the year.

02

Individuals who receive income that is not subject to withholding tax, such as rental income or investment income.

03

Those who plan to claim significant deductions or credits that may reduce their overall tax liability.

Note: It is always recommended to consult a tax professional or refer to the official IRS instructions for accurate and personalized guidance when filling out tax forms.

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