Form 500 Es - Individual Estimated Tax - 2011 (Page 2 of 2) in pdf

INSTRUCTIONS FOR INDIVIDUAL AND FIDUCIARIES ESTIMATED TAX (500ES)

WHO MUST FILE ESTIMATED TAX. Each individual or fiduciary

WHEN AND WHERE TO FILE. Estimated tax required from

subject to Georgia income tax who reasonably expects to have

persons not regarded as farmers or fishermen shall be filed on

gross income during the year which exceeds (1) personal

or before April 15 of the taxable year, except if the above

exemption, plus (2) credit for dependents, plus (3) estimated

requirements are first met on or after April 1 and before June

deductions, plus (4) $1,000 income not subject to withholding.

1, estimated tax must be filed by June 15; on or after June 1

but before September 1, by September 15; and on or after

EXCEPTION. Estimated tax is not required if, under an agreement

September 1, by January 15 of the following year. Individuals

between the employer and the employee, additional tax is withheld

to cover income that normally would require estimated tax to be

filing on a fiscal year basis ending after December 31 must

filed. Individuals whose gross income from farming or fishing is

file on corresponding dates.

at least two thirds of the total gross income from all sources may:

Make check or money order payable to:

(a) file as the other taxpayers or (b) file their return by March 1,

“Georgia Department of Revenue”

2011 and pay the full amount of tax due by that date.

PURPOSE OF ESTIMATED TAX. The purpose is to enable

Payment should be mailed to:

taxpayers having income not subject to withholding to currently

Georgia Department of Revenue

pay their income tax. Taxpayers are also required to file an annual

Processing Center

return claiming credit thereon for amounts paid or credited to

P.O. Box 740319

their estimated tax.

Atlanta, Georgia 30374-0319

PAYMENT OF ESTIMATED TAX. Payment in full of your estimated

You may also pay estimated tax with a credit card. Visit

tax may be made with the first required installment or in equal

our website at for more information.

installments during this year on or before April 15, June 15,

September 15, and the following January 15. If the due date falls

HOW TO COMPLETE FORM 500 ES.

on a weekend or holiday, the tax shall be due on the next day that

Complete the name and address field located on the upper

is not a weekend or holiday. Please include your Social Security

right side of coupon. Calculate your estimated tax using the

number on your check.

schedule in the tax booklet (Page 23). Line 15 is your estimated

HOW TO ESTIMATE YOUR TAX. A schedule for computing your

tax for the year. Divide Line 15 by the number of quarters of

estimated tax is enclosed in the booklet on page 23. Tax rate

liability (see “When and Where to File” above) to compute the

schedules are listed in the Tax Booklet.

amount to be submitted quarterly. Enter this amount on Form

PENALTIES. Failure to comply with the provisions of this law

500 ES and submit to the Georgia Department of Revenue. A

relative to underpayment of installments may result in the

coupon booklet will be sent to you for the remaining quarters.

assessment of additional charges as a penalty. Willful failure to

DEDUCTION AMOUNT FOR TAX YEAR 2011

pay estimated tax will constitute a misdemeanor.

Personal Exemption for self and spouse ................. $2,700

STANDARD DEDUCTION.

Dependent Exemption .............................................. $3,000

Single and head of household ....................................$2,300

Maximum Retirement Income Exclusion ............... $35,000

Married filing jointly ......................................................$3,000

For additional information concerning Individual forms

Married filing separately ..............................................$1,500

please call: 1-877-423-6711.

Additional Deduction:

Age 65 or older .............................. $1,300

Georgia Public Revenue Code Section 48-2-31 stipulates that

Blind ............................................... $1,300

taxes shall be paid in lawful money of the United States, free

These additional deductions are for you and your spouse only if

of any expense to the State of Georgia.

the standard deduction is used. These amounts are standard

regardless of income.

PLEASE DO NOT STAPLE. PLEASE REMOVE ALL ATTACHED CHECK STUBS.

Cut along dotted line

500 ES

(Rev.1/11)

Name and Address:

Individual Estimated Tax

2011

Calendar Year

or Fiscal Year Ending

TYPE OF RETURN Fiduciary

Individual

Taxpayer’s SSN or Fiduciary FEIN

Spouse’s SSN

Tax Year

Quarter

Due Date

Vendor Code

040

If your name and address is incorrect,

PLEASE DO NOT STAPLE. REMOVE ALL CHECK STUBS

mark the change of address in box and

make change in box below.

Address Change

GEORGIA DEPARTMENT OF REVENUE

PROCESSING CENTER

PO BOX 740319

ATLANTA GA 30374-0319

Amount Paid

Form 500 Es - Individual Estimated Tax - 2011 Page 2

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