Form It-500pv - Income Tax Payment Voucher
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1IT-500PV
(Rev. 8/00)
Department
Use Only
Income Tax Payment Voucher
Misc.
Department of Revenue
P.O. Box 740318
Atlanta, GA 30374-0318
(404) 656-4674
DO NOT USE FOR CORPORATE
[ ]
IT-560 (Individual Extension Payment)
[ ]
500 ES (Individual Estimate)
Fiduciary
[ ]
Social Security Number or I.D. Number
Name of Taxpayer
Spouse’s Social Security Number or I.D. Number
Address
City
State
Zip Code
Amount of Payment Enclosed
Taxable Year of Return
The amount paid is to be credited as a payment on the liability that may be
due as reflected by the completed return of the above named taxpayer.
Signature___________________________Date___________Title__________________Telephone Number______________________
PLEASE MAIL ENTIRE PAGE
Instructions For Estimated Tax for Individuals and Fiduciaries
and Extension Payments
WHO MUST FILE ESTIMATE. Each individual or fiduciary subject to
WHEN AND WHERE TO FILE. Estimated tax required from persons not
Georgia income tax who reasonably expects to have gross income dur-
regarded as farmers or fishermen shall be filed on or before April 15 of
ing the year which exceeds (1) personal exemption plus (2) credit for
the taxable year, except if the above requirements are first met on or
dependents plus(3) estimated deductions, plus (4) $1,000 income not
after April 1 and before June 1, estimate must be filed by June 15; on or
subject to withholding.
after June 1 but before September 1, by September 15; and on or after
September 1, by January 15 of the following year. Individuals filing on a
EXCEPTION: Estimated tax is not required if, under an agreement
fiscal year ending after December 31 must file on corresponding dates.
between the employer and the employee, additional tax is withheld to
cover income that normally would require estimated tax to be filed. In-
Make check or money order payable to:
dividuals whose gross income from farming or fishing is at least two
“Georgia Income Tax Division.”
thirds of the total gross income from all sources may: (a) file as the
other taxpayers or (b) file their return by March 1, 2001 and pay the full
Payment should be delivered or mailed to:
amount of tax due by that date.
Georgia Department of Revenue
PURPOSE OF ESTIMATED TAX. The purpose is to enable taxpayers
P.O. Box 740318
having income not subject to withholding to currently pay their income
Atlanta, Georgia 30374-0318
tax. Taxpayers are also required to file an annual return claiming credit
thereon for amounts paid or credited to their estimated tax.
HOW TO COMPLETE FORM 500 ES PAYMENT. Calculate your esti-
mated tax by using the Schedule on Page 16. Line 12 is your estimated
PAYMENT OF ESTIMATED TAX. Payment in full of your estimated tax
tax for the year. Divide Line 12 by the number of quarters of liability (see
may be made with the first required installment or in equal installments
“When and Where to File” above) to compute the amount to be submit-
during this year on or before April 15, June 15, September 15, and the
ted quarterly. Enter this amount on the Payment Voucher, check the 500
following January 15.
ES box, and submit to the Georgia Income Tax Division. A coupon book-
let will be sent to you for the remaining quarters.
HOW TO ESTIMATE YOUR TAX. A schedule for computing your esti-
mated tax is enclosed. Tax rate schedules are furnished on Page 14.
PERSONAL EXEMPTION AND EXEMPTION FOR DEPENDENTS.
PENALTIES. Failure to comply with the provisions of this law relative
Each Exemption for 2001...................................................................$2,700
to underpayment of installments may result in the assessment of addi-
Retirement Income Exclusion for 2001 maximum.....................$14,000
tional charges as a penalty. Willful failure to pay estimated tax will
constitute a misdemeanor.
IT-560 EXTENSION PAYMENTS. Taxpayers should use the Income
Tax Payment Voucher if they expect to owe any tax. This form is not an
STANDARD DEDUCTION.
extension. It is used to pay an expected balance due by April 15 when
Single and head of household............................................................$2,300
the return itself will not be filed by the due date. The amount paid with
Married filing jointly...............................................................................$3,000
the payment voucher for an IT-560 extension payment is entered on Line
Married filing separately......................................................................$1,500
20 of the Georgia Form 500.
Additional:
Age 65 or older or blind. These additional deductions are for
you and your spouse but only if the standard deduction is
used.............$1,300
Page 15
These amounts are standard regardless of income.
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