Form D-1 - 2007 Individual Declaration Of Estimated Income Tax
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22007 INDIVIDUAL DECLARATION
Click on the fields below and type in your
information. Then print the form and mail it to
our office.
OF ESTIMATED INCOME TAX
FOR CALENDAR YEAR 2007 OR _______ MONTHS ENDING _______ 20____
FOR OFFICIAL USE ONLY
A legally filed declaration must be signed, dated and accompanied by payment. The safest and easiest way to declare is to estimate this year’s taxes based
on last year’s taxable income. Mail To: Cincinnati Income Tax Division, 805 Central Avenue Suite 600, Cincinnati, OH 45202-5756, by
th
th
APRIL 16, 2007 or by the 15
day of the 4
month after the tax year begins.
Account #
Primary Social Security #
Spouse’s Social Security #
______-_______-________
______-_______-________
Name(s)
Address
City/State/Zip
Please make corrections as necessary if your account information is preprinted above.
TAX DECLARATION
1. Total Estimated Income Subject to Tax……………………………………………
_____________________
2. Cincinnati Income Tax Declared (Multiply Line 1 by 2.1% [.021])………………
_____________________
3. Estimated Taxes Withheld from Wages…………………………………………...
_____________________
4. Tax Due after Withholding (Line 2 less Line 3)…………………………………..
_____________________
5. Declaration Due (25% of Line 4 if making installment payments)……………….
_____________________
6. Overpayment Credits from Previous Years……………………………………….
_____________________
7. First Quarter Payment Amount Due………………………………………………
_____________________
The undersigned declares this to be a true, correct and complete Declaration of Estimated Cincinnati Income Tax for the year 2007.
___________________________
_____________
_______________________________
SIGNATURE
SPOUSE’S SIGNATURE
DATE
INSTRUCTIONS
Line 1. Base your estimated income on the amount subject to tax in the preceding full year, or by annualizing income if the preceding
tax year was not for a full 12-month period.
Although you have the option to p ay only 90% of the estimated annual tax
liability in four quarterly installments, use of this option will subject you to the possibility of an interest and penalty
assessment if the installment payments total less than 90 percent of the ultimate tax liability.
Line 2. Compute your total estimated tax liability for 2007 by multiplying the amount on Line 1 by 2.1%. Enter the total on this line.
Line 3. Enter the estimated amount of Cincinnati and other allowable municipal taxes to be withheld from your wages by your
employer.
Line 4. Enter the total of Line 2 minus Line 3. Payment of this amount less overpayment credits listed on Line 6 will satisfy your
annual estimated payment requirement.
Line 5. If you elect to make quarterly installment payments, divid e Line 4 by 4 to determine your quarterly tax liability.
Line 6. Enter the amount of tax you overpaid on last year’s tax return that was not refunded to you. If you file on extension, please be
aware that overpayments from prior years are not credited to your next year’s liability until you file the prior year’s return.
Line 7. Enter the total of Line 5 minus Line 6. This is the amount of net estimated tax due by April 16, 2007. Three additional
payments are due according to the payment schedule below. Subsequent payments are equal to the total estimated tax on Line
4 divided by 4 less any overpayment still available from prior years. Failure to remit timely payments may result in the
assessment of interest and penalties.
PAYMENT SCHEDULE FOR CALENDAR YEAR FILERS
APRIL 16, 2007
JULY 31, 2007
OCT. 31, 2007
JAN. 31, 2008
APRIL 15, 2008
ND
RD
TH
FILE DECLARATION
MAKE 2
QUARTERLY
MAKE 3
QUARTERLY
MAKE 4
QUARTERLY
FILE RETURN. PAY
WITH 1/4 PAYMENT.
PAYMENT.
PAYMENT.
PAYMENT.
ANY BALANCE DUE.
•
th
th
By the 15
day of the 4
month after beginning a new business or taking a new job, everyone whose entire tax liability will not
be withheld by an employer must file a Declaration.
•
We will not bill you for the remaining quarterly installments. Please retain a copy of this form for future reference.
•
If you need additional information, please contact us at (513) 352-2546.
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