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2018. Individual Estimated Tax. WHAT ARE ESTIMATED TAX PAYMENTS. Estimated tax payments are required on income not subject to withholding, such as ...
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How to fill out individual estimated income tax
How to fill out individual estimated income tax
01
Gather all necessary documents such as W-2 forms, 1099 forms, and records of additional income.
02
Calculate your total income by adding up all sources of income.
03
Determine your allowable deductions and exemptions.
04
Use the appropriate tax forms or software to calculate your estimated tax liability.
05
Fill out the individual estimated income tax form accurately, following the instructions provided.
06
Double-check all calculations and ensure you have included all required information.
07
Submit your completed form along with any payment owed by the specified deadline.
Who needs individual estimated income tax?
01
Individuals who are self-employed or have income from freelancing or contract work need to file individual estimated income tax.
02
Individuals who receive income from sources that do not withhold taxes, such as rental income or investment earnings, also need to file individual estimated income tax.
03
People who expect to owe a certain amount in taxes and do not want to face penalties for underpayment should also file individual estimated income tax.
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