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FORM BDI20CITY OF TOLEDO BUSINESS1ESTIMATED TAX 2020Type of Business Toledo Account #PAYMENT NO. 1 DUE APRIL 15, 2020 (CALENDAR) Estimated Tax forbear Ending Amount of this Payment.$ Employers Identification
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Estimated tax payments are periodic advance payment of taxes based on the expected taxable income.
Individuals, businesses, and self-employed individuals who expect to owe a certain amount of taxes at the end of the year are required to file estimated tax payments.
Estimated tax payments can be filled out using Form 1040-ES provided by the IRS.
The purpose of estimated tax payments is to prevent individuals from having a large tax bill at the end of the year by spreading out tax payments throughout the year.
When filing estimated tax payments, individuals must report their expected taxable income, deductions, credits, and tax liability for the year.
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