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How to make estimated tax payments

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anzibar
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Posts: 15
« on: March 13, 2010, 01:22:08 pm »
Hi,

I am in a trouble, I did not pay enough taxes in witholdings in 2009 and have to pay penalty for having too large one-time payment now. I do not want this to happen to me in 2011, so how do I avoid it? Can I send some extra money to IRS during 2010, so that my tax bill is not as large next year? How do I do it?

Thanks.
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« on: March 13, 2010, 01:22:08 pm »
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atari
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« Reply #1 on: March 13, 2010, 01:44:50 pm »
Quote from: anzibar on March 13, 2010, 01:22:08 pm
Can I send some extra money to IRS during 2010, so that my tax bill is not as large next year? How do I do it?

I am not sure about federal, but for Wisconsin it is estimated tax payments for 2010 in installments beginning April 15, 2010, using Wisconsin Form 1-ES.
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danisara
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Posts: 280
« Reply #2 on: March 15, 2010, 04:24:05 pm »
For federal taxes, you would use the 1040ES form.

In case you receive your taxable income unevenly during the tax year, you might be able to annualize your income, see form 2210.
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Maxi-Pedia Forum > Finance, Business, Taxes, Economics, Jobs, Politics, etc. > Taxes (Moderator: mod) > Topic: How to make estimated tax payments
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