KY DoR 740-ES 2016 free printable template

KENTUCKY ESTIMATED TAX VOUCHER INSTALLMENT 1 2016 INDIVIDUAL INCOME TAX Form 740-ES Due April 18 2016 12/31/2016 Your Social Security No. Spouse s Social Security No. Year Ending FISCAL year filers ONLY FISCAL year ending / For Make check payable to Kentucky State Treasurer AAAAAAAAAB EFCEFCEFCD Amount Paid Kentucky Department of Revenue 42A740ES0001 Frankfort KY 40620-0009 42A740-ES 09/15 DO NOT ATTACH CHECK TO VOUCHER Due June 15 2016 Due September 15 2016 Due January 17 2017.

How to fill out KY DoR 740-ES

How to fill out KY DoR 740-ES

1. Obtain a copy of the KY DoR 740-ES form from the Kentucky Department of Revenue website or administrative office.
2. Fill in your name, address, and Social Security number at the top of the form.
3. Indicate the tax year for which you are filing the estimated tax.
4. Estimate your total income for the tax year, and calculate the expected tax liability.
5. Complete the sections related to any credits or adjustments.
6. Divide your total estimated tax liability by the number of payment periods (usually four) to find the amount due for each period.
7. Submit the completed form to the Kentucky Department of Revenue before the due date for estimated payments.

Who needs KY DoR 740-ES?

1. Individuals or businesses in Kentucky who expect to owe tax of $500 or more for the current tax year after subtracting withholding and refundable credits.
2. Taxpayers who have income not subject to withholding and want to avoid underpayment penalties.
3. Self-employed individuals or those with additional sources of income such as rental or investment income.

Instructions and Help about KY DoR 740-ES

Law.com legal forms guide form 740 Kentucky individual income tax return resident full year residents of Kentucky should file their state income taxes using a form 740 this document can be obtained from the website of the Kentucky Department of Revenue step 1 if not filing on a calendar year basis enter the beginning and ending dates of your fiscal year step 2 if filing jointly enter your spouse's social security number in box a and yours in box be otherwise just enter yours in box be enter both names or just yours as applicable in the box below as well as your complete mailing address step 3 indicate your filing status with a check mark step 4 indicate with a check mark whether you or your spouse wish to donate two dollars to a political party fund you may donate to a Republican or Democratic fund or donate with no designation step 5 throughout the form two columns are provided column an is only for those who are filing jointly to document their spouses income while column B is for the person filing the form whether filing jointly or singly lines 5 through 11 provide instructions for computing your taxable income step 6 lines 12 through 26 compute your income tax liability note that in order to complete line 17 which concerns personal tax credits you must first complete section b on the third page and transfer the results from lines 4a and 4b there additionally if you are claiming business incentive and related tax credits you must complete schedule a and transfer the results to line 15 step 7 lines 27 through 29 adjust your state tax liability by adding use tax on any items purchased online step 8 complete lines 30 through 43 as directed in order to calculate your adjusted tax liability balance due or the refund you are owed by the state step 9 attach a copy of your federal 1040 return if you received farm business or rental income or loss sign and date the form to watch more videos please make sure to visit laws calm

People Also Ask about

How to calculate 1040 es payments?

To calculate your estimated taxes, you will add up your total tax liability for the current year—including self-employment tax, individual income tax, and any other taxes—and divide that number by four.

Why did I receive payment vouchers from the IRS?

Why does the IRS want me to use a payment voucher? The IRS is modernizing its payment system. The Form 1040-V, Payment Voucher, is part of the modernization. If you have a balance due on your tax return, using the payment voucher will help the IRS process your payment more accurately and efficiently.

Why did I get a 1040 ES payment voucher?

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan. You're not required to make estimated tax payments; we're just suggesting it based on the info in your return.

Why did I receive a 1040-ES?

Use Form 1040-ES to figure and pay your estimated tax. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.).

Do you get a form for estimated tax payments?

Use Form 1040-ES to figure and pay your estimated tax. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.).

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What is KY DoR 740-ES?

KY DoR 740-ES is a form used by individuals in Kentucky to make estimated tax payments to the state.

Who is required to file KY DoR 740-ES?

Individuals who expect to owe tax of $500 or more, and businesses that anticipate owing $1,000 or more in state income tax are required to file KY DoR 740-ES.

How to fill out KY DoR 740-ES?

To fill out KY DoR 740-ES, provide your personal information, estimate your annual income, calculate the estimated tax owed, and indicate the amount you are paying for the current quarter.

What is the purpose of KY DoR 740-ES?

The purpose of KY DoR 740-ES is to allow taxpayers to make periodic estimated payments on their Kentucky state income tax to avoid penalties at the end of the tax year.

What information must be reported on KY DoR 740-ES?

KY DoR 740-ES requires reporting of personal details, expected income, calculated estimated tax liability, and payment amounts for the periods specified.