Form 1040-Es Instructions - Estimated Tax For Individuals - 2008


2 0 08
Department of the Treasury
Internal Revenue Service
Form 1040-ES
Estimated Tax for Individuals
2. 100% of the tax shown on your 2007
Other available information:
Purpose of This Package
tax return (but see Higher income taxpayers
Pub. 553, Highlights of 2007 Tax
Use this package to figure and pay your
estimated tax. If you are not required to
Instructions for the 2007 Form 1040 or
However, if you did not file a 2007 tax
make estimated tax payments for 2008, you
return or if your 2007 return did not cover 12
can discard this package.
What’s Hot. Go to , click on
months, item (2) above does not apply.
More Forms and Publications, and then on
Estimated tax is the method used to pay
Exception. You do not have to pay
What’s Hot in forms and publications.
tax on income that is not subject to
estimated tax for 2008 if you were a U.S.
withholding (for example, earnings from
For details on how to get forms and
citizen or resident alien for all of 2007 and
self-employment, interest, dividends, rents,
publications, see page 82 of the instructions
you had no tax liability for the full 12-month
alimony, etc.). In addition, if you do not elect
for Form 1040 or page 73 of the Form
2007 tax year. You had no tax liability for
voluntary withholding, you should make
1040A instructions.
2007 if your total tax was zero or you did not
estimated tax payments on other taxable
If you have tax questions, call
have to file an income tax return.
income, such as unemployment
1-800-829-1040 for assistance. For TTY/
compensation and the taxable part of your
Special rules. There are special rules for
TDD help, call 1-800-829-4059.
social security benefits. See the 2007
farmers, fishermen, certain household
instructions for your tax return for details on
employers, and certain higher income
What’s New
income that is taxable.
Use your 2007 tax return as a guide in
The estimated tax worksheet on page 4
Farmers and fishermen. If at least
figuring your 2008 estimated tax, but be
will help you figure the correct amount to
two-thirds of your gross income for 2007 or
sure to consider the following changes. For
pay. If you are paying by check or money
2008 is from farming or fishing, substitute
more information on these changes and
order, use the estimated tax payment
% for 90% in (1) under General rule,
other changes that may affect your 2008
vouchers in this package to ensure your
estimated tax, see Pub. 553.
estimated tax payments are credited
Household employers. When
Forgiveness of mortgage debt. A law
correctly to your account. Use the Record of
estimating the tax on your 2008 tax return,
Estimated Tax Payments on page 6 to keep
was just passed that may allow you to
include your household employment taxes if
track of the payments you have made and
exclude from income part or all of the
either of the following applies.
the due dates and amounts of your
mortgage debt forgiven on your principal
You will have federal income tax withheld
remaining payments.
residence. This applies for debt forgiven in
from wages, pensions, annuities, gambling
2007 through 2009. See Pub. 553 for more
Change of address. File these payment
winnings, or other income.
vouchers using your current address. If this
You would be required to make estimated
is a new mailing address, file Form 8822,
Volunteer firefighters and emergency
tax payments to avoid a penalty even if you
Change of Address, to update your record.
did not include household employment taxes
medical responders. Certain qualified
payments and other State and local tax
when figuring your estimated tax.
Preprinted vouchers. Because you are
benefits are not included in taxable income.
making estimated tax payments for 2008,
Higher income taxpayers. If your
For more information, see Pub. 553.
estimated tax payment vouchers for 2009
adjusted gross income for 2007 was more
will be sent to you preprinted with your
than $150,000 ($75,000 if your filing status
Special rule for sales of principal
name, address, and social security number,
for 2008 is married filing separately),
residences by surviving spouses. A
along with return envelopes and a copy of
surviving spouse who sells his or her
substitute 110% for 100% in (2) under
the instructions.
principal residence within 2 years after the
General rule, above. This rule does not
spouse’s date of death may be allowed to
apply to farmers or fishermen.
If you do not want to receive the
exclude up to $500,000 of qualified gain
Increase your withholding. If you also
vouchers and envelopes, simply
instead of $250,000. See Pub. 553 for more
receive salaries and wages, you may be
begin making your estimated tax
able to avoid having to make estimated tax
payments electronically or file your return
payments on your other income by asking
Standard deduction. If you do not itemize
your employer to take more tax out of your
your deductions, you can take the 2008
Who Must Make Estimated
earnings. To do this, file a new Form W-4,
standard deduction listed below for your
Employee’s Withholding Allowance
filing status.
Tax Payments
Certificate, with your employer.
The estimated tax rules apply to:
Generally, if you receive a pension or
THEN your
U.S. citizens and resident aliens,
IF your 2008 filing
annuity you can use Form W-4P,
Residents of Puerto Rico, the U.S. Virgin
status is...
deduction is...
Withholding Certificate for Pension or
Islands, Guam, the Commonwealth of the
Annuity Payments, to start or change your
Married filing jointly
Northern Mariana Islands, and American
withholding from these payments.
or Qualifying
Samoa, and
You can also choose to have federal
Nonresident aliens (use Form 1040-ES
income tax withheld from certain
government payments. For details, see
Head of household
General rule. In most cases, you must
Form W-4V, Voluntary Withholding Request.
Single or Married
make estimated tax payments if you expect
filing separately
to owe at least $1,000 in tax for 2008 (after
Additional Information You
subtracting your withholding and credits)
May Need
and you expect your withholding and credits
However, if you can be claimed as a
to be less than the smaller of:
You can find most of the information you will
dependent on another person’s 2008 return,
1. 90% of the tax shown on your 2008
need in Pub. 505, Tax Withholding and
your standard deduction is the greater of:
tax return, or
Estimated Tax.
$900, or
Cat. No. 11340T


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