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CLASS SPECIFICATIONClass Code: Date Est: Last Rev: Last Title Chg: FLEA: Probation:6140 08/1975 09/2015 Nonexempt 6 monthsCOLLECTIONS ANALYST DEFINITION Under general supervision, collects and services
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Date est stands for estimated tax date, which is an advance payment of income tax due on income that is not subject to withholding.
Individuals, sole proprietors, partners, and S corporation shareholders who expect to owe at least $1,000 in taxes after subtracting their withholding and refundable credits are required to file date est.
Date est can be filled out using Form 1040-ES, which includes a worksheet to help taxpayers calculate the amount of estimated tax due.
The purpose of date est is to ensure that taxpayers pay their taxes throughout the year rather than in one lump sum at the end, helping to avoid underpayment penalties.
Taxpayers must report their estimated income, deductions, credits, and any tax liability for the current year when filing date est.
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