How Do You Use IRS Form 1040-ES?
The IRS provides Form 1040-ES for taxpayers to report and make estimated tax payments throughout the year on income that has not been subject to tax withholding, including income from self employment, consulting and contract work. Most taxpayers must make estimated payments if, for any given year, they expect to owe at least $1,000 and the total of their withholding and credits is less than 90 percent of their total taxes. Complete the estimated tax worksheet on Page 4 of the IRS Form 1040-ES Instructions to determine if you should make estimated tax payments and to calculate the amount you should pay in each of four equal estimated tax payments due April 15, June 15, September 15 and January 15. Enter the amount from Line 17 of your estimated tax worksheet in the box at the upper right of each of Form 1040-ES payment voucher 1. Fill in your name, Social Security number and address on each of the four Form 1040-ES payment vouchers. Add your spouse’s name and Social Security number if y
