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.

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.