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February 21, 2020Contractor\'s Payment Estimate Summary contract and estimate 180518_G05_0038ContractorJ7T0043Estimate Number Period Started Period Endgame GeneratedEstimate Type0038January 16, 2020February
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Gather all financial information for the period up to February 15th
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Individuals who are self-employed and need to pay estimated taxes
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Freelancers or independent contractors with income not subject to withholding
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February 15th estimates refer to the quarterly estimated tax payment due on February 15th for the current tax year.
Individuals, self-employed individuals, and businesses with income that is not subject to withholding are required to file February 15th estimates.
To fill out February 15th estimates, individuals and businesses need to calculate their estimated tax liability for the quarter and submit payment using Form 1040-ES or electronically through the IRS website.
The purpose of February 15th estimates is to help individuals and businesses pay their taxes throughout the year rather than in one lump sum at the end of the tax year, avoiding a large tax bill.
On February 15th estimates, individuals and businesses must report their estimated income, deductions, credits, and tax liability for the quarter.
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