Fillable Form 1040-Es - Estimated Tax For Individuals

2012

Department of the Treasury

Internal Revenue Service

Form 1040-ES

Estimated Tax for Individuals

Farmers and fishermen. If at least two-thirds of your

At the time this form went to print, Congress was

gross income for 2011 or 2012 is from farming or fishing,

considering legislation that would extend certain

substitute 66

% for 90% in (2a) under General Rule

tax provisions that expired at the end of 2011.

above.

CAUTION

Legislative actions may impact your estimated tax liability

Household employers. When estimating the tax on

calculation. The IRS will take appropriate steps to notify

your 2012 tax return, include your household

the public on any legislative developments. For more

employment taxes if either of the following applies.

•

information about these tax provisions, see the

You will have federal income tax withheld from wages,

discussion under What’s New and Expiring Tax Benefits,

pensions, annuities, gambling winnings, or other income.

•

later.

You would be required to make estimated tax

payments to avoid a penalty even if you did not include

Purpose of This Package

household employment taxes when figuring your

estimated tax.

Use this package to figure and pay your estimated tax. If

you are not required to make estimated tax payments for

Higher income taxpayers. If your adjusted gross

2012, you can discard this package.

income (AGI) for 2011 was more than $150,000 ($75,000

if your filing status for 2012 is married filing separately),

Estimated tax is the method used to pay tax on

substitute 110% for 100% in (2b) under General Rule,

income that is not subject to withholding (for example,

earlier. This rule does not apply to farmers or fishermen.

earnings from self-employment, interest, dividends, rents,

alimony, etc.). In addition, if you do not elect voluntary

Increase Your Withholding

withholding, you should make estimated tax payments on

If you also receive salaries and wages, you may be able

other taxable income, such as unemployment

to avoid having to make estimated tax payments on your

compensation and the taxable part of your social security

other income by asking your employer to take more tax

benefits.

out of your earnings. To do this, file a new Form W-4,

Change of address. If your address has changed, file

Employee’s Withholding Allowance Certificate, with your

Form 8822, Change of Address, to update your record.

employer.

Generally, if you receive a pension or annuity you can

Who Must Make Estimated Tax

use Form W-4P, Withholding Certificate for Pension or

Annuity Payments, to start or change your withholding

Payments

from these payments.

The estimated tax rules apply to:

•

You also can choose to have federal income tax

U.S. citizens and resident aliens;

•

withheld from certain government payments. For details,

Residents of Puerto Rico, the U.S. Virgin Islands,

see Form W-4V, Voluntary Withholding Request.

Guam, the Commonwealth of the Northern Mariana

Islands, and American Samoa; and

•

Additional Information You May Need

Nonresident aliens (use Form 1040-ES (NR)).

You can find most of the information you will need in Pub.

General Rule

505, Tax Withholding and Estimated Tax.

In most cases, you must pay estimated tax for 2012 if

Other available information:

•

both of the following apply.

Instructions for the 2011 Form 1040 or Form 1040A.

•

1. You expect to owe at least $1,000 in tax for 2012,

Important Changes. Go to IRS.gov, click on Forms &

Pubs, and then on Changes to Current Forms and

after subtracting your withholding and refundable credits.

2. You expect your withholding and refundable credits

Publications.

to be less than the smaller of:

For details on how to get forms and publications, see

a. 90% of the tax to be shown on your 2012 tax

page 93 of the 2011 Instructions for Form 1040 or page

return, or

82 of the 2011 Instructions for Form 1040A. If you have

b. 100% of the tax shown on your 2011 tax return.

tax questions, call 1-800-829-1040 for assistance. For

Your 2011 tax return must cover all 12 months.

TTY/TDD help, call 1-800-829-4059.

Note. These percentages may be different if you are

What’s New

a farmer, fisherman, or higher income taxpayer. See

Use your 2011 tax return as a guide in figuring your 2012

Special Rules next.

estimated tax, but be sure to consider the following.

Exception. You do not have to pay estimated tax for

At the time this form went to print, Congress was

2012 if you were a U.S. citizen or resident alien for all of

considering legislation that would extend certain

2011 and you had no tax liability for the full 12-month

tax provisions that expired at the end of 2011.

2011 tax year. You had no tax liability for 2011 if your

CAUTION

Legislative actions may impact your estimated tax liability

total tax was zero or you did not have to file an income

calculation. The IRS will take appropriate steps to notify

tax return.

the public on any legislative developments.

Special Rules

Adoption credit and adoption assistance. Beginning

There are special rules for farmers, fishermen, certain

in 2012, the maximum adoption credit will be $12,650

household employers, and certain higher income

and the credit is no longer refundable. The maximum

taxpayers.

amount of adoption assistance that can be excluded from

May 25, 2012

Cat. No. 11340T

Form 1040-Es - Estimated Tax For Individuals - 2012

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