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Can You File 1040ez Online

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Can You File 1040ez Online

Can you file 1040ez online 8. Can you file 1040ez online   Qualified Tuition Program (QTP) Table of Contents Introduction What Is a Qualified Tuition ProgramDesignated beneficiary. Can you file 1040ez online Half-time student. Can you file 1040ez online How Much Can You Contribute Are Distributions TaxableFiguring the Taxable Portion of a Distribution Additional Tax on Taxable Distributions Rollovers and Other TransfersRollovers Changing the Designated Beneficiary Introduction Qualified tuition programs (QTPs) are also called “529 plans. Can you file 1040ez online ” States may establish and maintain programs that allow you to either prepay or contribute to an account for paying a student's qualified education expenses at a postsecondary institution. Can you file 1040ez online Eligible educational institutions may establish and maintain programs that allow you to prepay a student's qualified education expenses. Can you file 1040ez online If you prepay tuition, the student (designated beneficiary) will be entitled to a waiver or a payment of qualified education expenses. Can you file 1040ez online You cannot deduct either payments or contributions to a QTP. Can you file 1040ez online For information on a specific QTP, you will need to contact the state agency or eligible educational institution that established and maintains it. Can you file 1040ez online What is the tax benefit of a QTP. Can you file 1040ez online   No tax is due on a distribution from a QTP unless the amount distributed is greater than the beneficiary's adjusted qualified education expenses. Can you file 1040ez online See Are Distributions Taxable , later, for more information. Can you file 1040ez online    Even if a QTP is used to finance a student's education, the student or the student's parents still may be eligible to claim the American opportunity credit or the lifetime learning credit. Can you file 1040ez online See Coordination With American Opportunity and Lifetime Learning Credits, later. Can you file 1040ez online What Is a Qualified Tuition Program A qualified tuition program is a program set up to allow you to either prepay, or contribute to an account established for paying, a student's qualified education expenses at an eligible educational institution. Can you file 1040ez online QTPs can be established and maintained by states (or agencies or instrumentalities of a state) and eligible educational institutions. Can you file 1040ez online The program must meet certain requirements. Can you file 1040ez online Your state government or the eligible educational institution in which you are interested can tell you whether or not they participate in a QTP. Can you file 1040ez online Qualified education expenses. Can you file 1040ez online   These are expenses related to enrollment or attendance at an Eligible educational institution (defined later). Can you file 1040ez online As shown in the following list, to be qualified, some of the expenses must be required by the institution and some must be incurred by students who are enrolled at least half-time. Can you file 1040ez online See Half-time student , later. Can you file 1040ez online The following expenses must be required for enrollment or attendance of a Designated beneficiary (defined later) at an eligible educational institution. Can you file 1040ez online Tuition and fees. Can you file 1040ez online Books, supplies, and equipment. Can you file 1040ez online Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with enrollment or attendance at an eligible educational institution. Can you file 1040ez online Expenses for room and board must be incurred by students who are enrolled at least half-time. Can you file 1040ez online The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. Can you file 1040ez online The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Can you file 1040ez online The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Can you file 1040ez online You will need to contact the eligible educational institution for qualified room and board costs. Can you file 1040ez online    For tax years after 2010, the purchase of computer technology or equipment is only a qualified education expense if the computer technology or equipment is required for enrollment or attendance at an eligible institution. Can you file 1040ez online Designated beneficiary. Can you file 1040ez online   The designated beneficiary is generally the student (or future student) for whom the QTP is intended to provide benefits. Can you file 1040ez online The designated beneficiary can be changed after participation in the QTP begins. Can you file 1040ez online If a state or local government or certain tax-exempt organizations purchase an interest in a QTP as part of a scholarship program, the designated beneficiary is the person who receives the interest as a scholarship. Can you file 1040ez online Half-time student. Can you file 1040ez online   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic workload for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. Can you file 1040ez online Eligible educational institution. Can you file 1040ez online   For purposes of a QTP, this is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Can you file 1040ez online S. Can you file 1040ez online Department of Education. Can you file 1040ez online It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Can you file 1040ez online The educational institution should be able to tell you if it is an eligible educational institution. Can you file 1040ez online   Certain educational institutions located outside the United States also participate in the U. Can you file 1040ez online S. Can you file 1040ez online Department of Education's Federal Student Aid (FSA) programs. Can you file 1040ez online   How Much Can You Contribute Contributions to a QTP on behalf of any beneficiary cannot be more than the amount necessary to provide for the qualified education expenses of the beneficiary. Can you file 1040ez online There are no income restrictions on the individual contributors. Can you file 1040ez online You can contribute to both a QTP and a Coverdell ESA in the same year for the same designated beneficiary. Can you file 1040ez online   Are Distributions Taxable The part of a distribution representing the amount paid or contributed to a QTP does not have to be included in income. Can you file 1040ez online This is a return of the investment in the plan. Can you file 1040ez online The designated beneficiary generally does not have to include in income any earnings distributed from a QTP if the total distribution is less than or equal to adjusted qualified education expenses (defined under Figuring the Taxable Portion of a Distribution , later). Can you file 1040ez online Earnings and return of investment. Can you file 1040ez online    You will receive a Form 1099-Q, from each of the programs from which you received a QTP distribution in 2013. Can you file 1040ez online The amount of your gross distribution (box 1) shown on each form will be divided between your earnings (box 2) and your basis, or return of investment (box 3). Can you file 1040ez online Form 1099-Q should be sent to you by January 31, 2014. Can you file 1040ez online Figuring the Taxable Portion of a Distribution To determine if total distributions for the year are more or less than the amount of qualified education expenses, you must compare the total of all QTP distributions for the tax year to the adjusted qualified education expenses. Can you file 1040ez online Adjusted qualified education expenses. Can you file 1040ez online   This amount is the total qualified education expenses reduced by any tax-free educational assistance. Can you file 1040ez online Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Can you file 1040ez online Taxable earnings. Can you file 1040ez online   Use the following steps to figure the taxable part. Can you file 1040ez online Multiply the total distributed earnings shown in box 2 of Form 1099-Q by a fraction. Can you file 1040ez online The numerator is the adjusted qualified education expenses paid during the year and the denominator is the total amount distributed during the year. Can you file 1040ez online Subtract the amount figured in (1) from the total distributed earnings. Can you file 1040ez online The result is the amount the beneficiary must include in income. Can you file 1040ez online Report it on Form 1040 or Form 1040NR, line 21. Can you file 1040ez online Example 1. Can you file 1040ez online In 2007, Sara Clarke's parents opened a savings account for her with a QTP maintained by their state government. Can you file 1040ez online Over the years they contributed $18,000 to the account. Can you file 1040ez online The total balance in the account was $27,000 on the date the distribution was made. Can you file 1040ez online In the summer of 2013, Sara enrolled in college and had $8,300 of qualified education expenses for the rest of the year. Can you file 1040ez online She paid her college expenses from the following sources. Can you file 1040ez online   Gift from parents $1,600     Partial tuition scholarship (tax-free) 3,100     QTP distribution 5,300           Before Sara can determine the taxable part of her QTP distribution, she must reduce her total qualified education expenses by any tax-free educational assistance. Can you file 1040ez online   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Equals: Adjusted qualified  education expenses (AQEE) $5,200   Since the remaining expenses ($5,200) are less than the QTP distribution, part of the earnings will be taxable. Can you file 1040ez online Sara's Form 1099-Q shows that $950 of the QTP distribution is earnings. Can you file 1040ez online Sara figures the taxable part of the distributed earnings as follows. Can you file 1040ez online   1. Can you file 1040ez online $950 (earnings) × $5,200 AQEE  $5,300 distribution           =$932 (tax-free earnings)     2. Can you file 1040ez online $950 (earnings)−$932 (tax-free earnings)     =$18 (taxable earnings)  Sara must include $18 in income (Form 1040, line 21) as distributed QTP earnings not used for adjusted qualified education expenses. Can you file 1040ez online Coordination With American Opportunity and Lifetime Learning Credits An American opportunity or lifetime learning credit (education credit) can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. Can you file 1040ez online This means that after the beneficiary reduces qualified education expenses by tax-free educational assistance, he or she must further reduce them by the expenses taken into account in determining the credit. Can you file 1040ez online Example 2. Can you file 1040ez online Assume the same facts as in Example 1 , except that Sara's parents claimed an American opportunity credit of $2,500 (based on $4,000 expenses). Can you file 1040ez online   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Minus: Expenses taken into account  in figuring American opportunity credit −4,000     Equals: Adjusted qualified  education expenses (AQEE) $1,200           The taxable part of the distribution is figured as follows. Can you file 1040ez online   1. Can you file 1040ez online $950 (earnings) × $1,200 AQEE  $5,300 distribution           =$215 (tax-free earnings)     2. Can you file 1040ez online $950 (earnings)−$215 (tax-free earnings)     =$735 (taxable earnings)       Sara must include $735 in income (Form 1040, line 21). Can you file 1040ez online This represents distributed earnings not used for adjusted qualified education expenses. Can you file 1040ez online Coordination With Coverdell ESA Distributions If a designated beneficiary receives distributions from both a QTP and a Coverdell ESA in the same year, and the total of these distributions is more than the beneficiary's adjusted qualified higher education expenses, the expenses must be allocated between the distributions. Can you file 1040ez online For purposes of this allocation, disregard any qualified elementary and secondary education expenses. Can you file 1040ez online Example 3. Can you file 1040ez online Assume the same facts as in Example 2 , except that instead of receiving a $5,300 distribution from her QTP, Sara received $4,600 from that account and $700 from her Coverdell ESA. Can you file 1040ez online In this case, Sara must allocate her $1,200 of adjusted qualified higher education expenses (AQHEE) between the two distributions. Can you file 1040ez online   $1,200 AQHEE × $700 ESA distribution  $5,300 total distribution = $158 AQHEE (ESA)     $1,200 AQHEE × $4,600 QTP distribution  $5,300 total distribution = $1,042 AQHEE (QTP)   Sara then figures the taxable portion of her Coverdell ESA distribution based on qualified higher education expenses of $158, and the taxable portion of her QTP distribution based on the other $1,042. Can you file 1040ez online Note. Can you file 1040ez online If you are required to allocate your expenses between Coverdell ESA and QTP distributions, and you have adjusted qualified elementary and secondary education expenses, see the examples in chapter 7, Coverdell Education Savings Account under Coordination With Qualified Tuition Program (QTP) Distributions . Can you file 1040ez online Coordination With Tuition and Fees Deduction. Can you file 1040ez online   A tuition and fees deduction can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. Can you file 1040ez online Losses on QTP Investments If you have a loss on your investment in a QTP account, you may be able to take the loss on your income tax return. Can you file 1040ez online You can take the loss only when all amounts from that account have been distributed and the total distributions are less than your unrecovered basis. Can you file 1040ez online Your basis is the total amount of contributions to that QTP account. Can you file 1040ez online You claim the loss as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23 (Schedule A (Form 1040NR), line 9), subject to the 2%-of-adjusted-gross-income limit. Can you file 1040ez online If you have distributions from more than one QTP account during a year, you must combine the information (amount of distribution, basis, etc. Can you file 1040ez online ) from all such accounts in order to determine your taxable earnings for the year. Can you file 1040ez online By doing this, the loss from one QTP account reduces the distributed earnings (if any) from any other QTP accounts. Can you file 1040ez online Example 1. Can you file 1040ez online In 2013, Taylor received a final distribution of $1,000 from QTP #1. Can you file 1040ez online His unrecovered basis in that account before the distribution was $3,000. Can you file 1040ez online If Taylor itemizes his deductions, he can claim the $2,000 loss on Schedule A (Form 1040). Can you file 1040ez online Example 2. Can you file 1040ez online Assume the same facts as in Example 1 , except that Taylor also had a distribution of $9,000 from QTP #2, giving him total distributions for 2013 of $10,000. Can you file 1040ez online His total basis in these distributions was $4,500 ($3,000 for QTP #1 and $1,500 for QTP #2). Can you file 1040ez online Taylor's adjusted qualified education expenses for 2013 totaled $6,000. Can you file 1040ez online In order to figure his taxable earnings, Taylor combines the two accounts and determines his taxable earnings as follows. Can you file 1040ez online   1. Can you file 1040ez online $10,000 (total distribution)−$4,500 (basis portion of distribution)     = $5,500 (earnings included in distribution)   2. Can you file 1040ez online $5,500 (earnings) x $6,000 AQEE  $10,000 distribution           =$3,300 (tax-free earnings)     3. Can you file 1040ez online $5,500 (earnings)−$3,300 (tax-free earnings)     =$2,200 (taxable earnings)                 Taylor must include $2,200 in income on Form 1040, line 21. Can you file 1040ez online Because Taylor's accounts must be combined, he cannot deduct his $2,000 loss (QTP #1) on Schedule A (Form 1040). Can you file 1040ez online Instead, the $2,000 loss reduces the total earnings that were distributed, thereby reducing his taxable earnings. Can you file 1040ez online Additional Tax on Taxable Distributions Generally, if you receive a taxable distribution, you also must pay a 10% additional tax on the amount included in income. Can you file 1040ez online Exceptions. Can you file 1040ez online   The 10% additional tax does not apply to distributions: Paid to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary. Can you file 1040ez online Made because the designated beneficiary is disabled. Can you file 1040ez online A person is considered to be disabled if he or she shows proof that he or she cannot do any substantial gainful activity because of his or her physical or mental condition. Can you file 1040ez online A physician must determine that his or her condition can be expected to result in death or to be of long-continued and indefinite duration. Can you file 1040ez online Included in income because the designated beneficiary received: A tax-free scholarship or fellowship (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), or Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Can you file 1040ez online Made on account of the attendance of the designated beneficiary at a U. Can you file 1040ez online S. Can you file 1040ez online military academy (such as the USNA at Annapolis). Can you file 1040ez online This exception applies only to the extent that the amount of the distribution does not exceed the costs of advanced education (as defined in section 2005(d)(3) of title 10 of the U. Can you file 1040ez online S. Can you file 1040ez online Code) attributable to such attendance. Can you file 1040ez online Included in income only because the qualified education expenses were taken into account in determining the American opportunity or lifetime learning credit (see Coordination With American Opportunity and Lifetime Learning Credits , earlier. Can you file 1040ez online ) Exception (3) applies only to the extent the distribution is not more than the scholarship, allowance, or payment. Can you file 1040ez online Figuring the additional tax. Can you file 1040ez online    Use Part II of Form 5329, to figure any additional tax. Can you file 1040ez online Report the amount on Form 1040, line 58, or Form 1040NR, line 56. Can you file 1040ez online Rollovers and Other Transfers Assets can be rolled over or transferred from one QTP to another. Can you file 1040ez online In addition, the designated beneficiary can be changed without transferring accounts. Can you file 1040ez online Rollovers Any amount distributed from a QTP is not taxable if it is rolled over to another QTP for the benefit of the same beneficiary or for the benefit of a member of the beneficiary's family (including the beneficiary's spouse). Can you file 1040ez online An amount is rolled over if it is paid to another QTP within 60 days after the date of the distribution. Can you file 1040ez online Do not report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040 or 1040NR. Can you file 1040ez online These are not taxable distributions. Can you file 1040ez online Members of the beneficiary's family. Can you file 1040ez online   For these purposes, the beneficiary's family includes the beneficiary's spouse and the following other relatives of the beneficiary. Can you file 1040ez online Son, daughter, stepchild, foster child, adopted child, or a descendant of any of them. Can you file 1040ez online Brother, sister, stepbrother, or stepsister. Can you file 1040ez online Father or mother or ancestor of either. Can you file 1040ez online Stepfather or stepmother. Can you file 1040ez online Son or daughter of a brother or sister. Can you file 1040ez online Brother or sister of father or mother. Can you file 1040ez online Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. Can you file 1040ez online The spouse of any individual listed above. Can you file 1040ez online First cousin. Can you file 1040ez online Example. Can you file 1040ez online When Aaron graduated from college last year he had $5,000 left in his QTP. Can you file 1040ez online He wanted to give this money to his younger brother, who was in junior high school. Can you file 1040ez online In order to avoid paying tax on the distribution of the amount remaining in his account, Aaron contributed the same amount to his brother's QTP within 60 days of the distribution. Can you file 1040ez online If the rollover is to another QTP for the same beneficiary, only one rollover is allowed within 12 months of a previous transfer to any QTP for that designated beneficiary. Can you file 1040ez online Changing the Designated Beneficiary There are no income tax consequences if the designated beneficiary of an account is changed to a member of the beneficiary's family. Can you file 1040ez online See Members of the beneficiary's family , earlier. Can you file 1040ez online Example. Can you file 1040ez online Assume the same situation as in the last example. Can you file 1040ez online Instead of closing his QTP and paying the distribution into his brother's QTP, Aaron could have instructed the trustee of his account to simply change the name of the beneficiary on his account to that of his brother. Can you file 1040ez online Prev  Up  Next   Home   More Online Publications
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The Can You File 1040ez Online

Can you file 1040ez online 2. Can you file 1040ez online   Estimated Tax for 2014 Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Who Does Not Have To Pay Estimated Tax Who Must Pay Estimated TaxGeneral Rule Married Taxpayers Special Rules Aliens Estates and Trusts How To Figure Estimated Tax2014 Estimated Tax Worksheet When To Pay Estimated TaxWhen To Start Farmers and Fishermen How To Figure Each PaymentRegular Installment Method Annualized Income Installment Method Estimated Tax Payments Not Required How To Pay Estimated TaxCredit an Overpayment Pay Online Pay by Phone Pay by Check or Money Order Using the Estimated Tax Payment Voucher Introduction Estimated tax is the method used to pay tax on income that is not subject to withholding. Can you file 1040ez online This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. Can you file 1040ez online You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough. Can you file 1040ez online Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. Can you file 1040ez online If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Can you file 1040ez online If you do not pay enough by the due date of each payment period (see When To Pay Estimated Tax , later), you may be charged a penalty even if you are due a refund when you file your tax return. Can you file 1040ez online For information on when the penalty applies, see chapter 4. Can you file 1040ez online It would be helpful for you to have a copy of your 2013 tax return and an estimate of your 2014 income nearby while reading this chapter. Can you file 1040ez online Topics - This chapter discusses: Who must pay estimated tax, How to figure estimated tax (including illustrated examples), When to pay estimated tax, How to figure each payment, and How to pay estimated tax. Can you file 1040ez online Useful Items - You may want to see: Form (and Instructions) 1040-ES Estimated Tax for Individuals See chapter 5 for information about how to get this publication and form. Can you file 1040ez online Worksheets. Can you file 1040ez online   You may need to use several of the blank worksheets included in this chapter. Can you file 1040ez online See Worksheets for Chapter 2, later, to locate what you need. Can you file 1040ez online Who Does Not Have To Pay Estimated Tax If you receive salaries and wages, you may be able to avoid paying estimated tax by asking your employer to take more tax out of your earnings. Can you file 1040ez online To do this, file a new Form W-4 with your employer. Can you file 1040ez online See chapter 1. Can you file 1040ez online Estimated tax not required. Can you file 1040ez online   You do not have to pay estimated tax for 2014 if you meet all three of the following conditions. Can you file 1040ez online You had no tax liability for 2013. Can you file 1040ez online You were a U. Can you file 1040ez online S. Can you file 1040ez online citizen or resident alien for the whole year. Can you file 1040ez online Your 2013 tax year covered a 12-month period. Can you file 1040ez online   You had no tax liability for 2013 if your total tax (defined later under Total tax for 2013—line 14b ) was zero or you did not have to file an income tax return. Can you file 1040ez online Please click here for the text description of the image. Can you file 1040ez online Figure 2-A: Do You Have To Pay Estimated Tax? Who Must Pay Estimated Tax If you owed additional tax for 2013, you may have to pay estimated tax for 2014. Can you file 1040ez online You can use the following general rule as a guide during the year to see if you will have enough withholding, or should increase your withholding or make estimated tax payments. Can you file 1040ez online General Rule In most cases, you must pay estimated tax for 2014 if both of the following apply. Can you file 1040ez online You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. Can you file 1040ez online You expect your withholding and refundable credits to be less than the smaller of: 90% of the tax to be shown on your 2014 tax return, or 100% of the tax shown on your 2013 tax return. Can you file 1040ez online Your 2013 tax return must cover all 12 months. Can you file 1040ez online Note. Can you file 1040ez online The percentages in (2a) or (2b) above may be different if you are a farmer, fisherman, or higher income taxpayer. Can you file 1040ez online See Special Rules , later. Can you file 1040ez online If the result from using the general rule above suggests that you will not have enough withholding, complete the 2014 Estimated Tax Worksheet for a more accurate calculation. Can you file 1040ez online Figure 2-A takes you through the general rule. Can you file 1040ez online You may find this helpful in determining if you must pay estimated tax. Can you file 1040ez online If all your income will be subject to income tax withholding, you probably do not need to pay estimated tax. Can you file 1040ez online Example 1. Can you file 1040ez online Jane Smart uses Figure 2-A and the following information to figure whether she should pay estimated tax for 2014. Can you file 1040ez online She files as head of household claiming her dependent son, takes the standard deduction, and expects no refundable credits for 2014. Can you file 1040ez online Expected adjusted gross income (AGI) for 2014 $82,800 AGI for 2013 $73,700 Total tax on 2013 return (Form 1040,  line 61) $  8,746 Total 2014 estimated tax (line 13c of the 2014 Estimated Tax Worksheet) $11,015 Tax expected to be withheld in 2014 $10,000 Jane's answer to Figure 2-A, box 1, is YES; she expects to owe at least $1,000 for 2014 after subtracting her withholding from her expected total tax ($11,015 − $10,000 = $1,015). Can you file 1040ez online Her answer to box 2a is YES; she expects her income tax withholding ($10,000) to be at least 90% of the tax to be shown on her 2014 return ($11,015 × 90% = $9,913. Can you file 1040ez online 50). Can you file 1040ez online Jane does not need to pay estimated tax. Can you file 1040ez online Example 2. Can you file 1040ez online The facts are the same as in Example 1, except that Jane expects only $8,700 tax to be withheld in 2014. Can you file 1040ez online Because that is less than $9,913. Can you file 1040ez online 50, her answer to box 2a is NO. Can you file 1040ez online Jane's answer to box 2b is also NO; she does not expect her income tax withholding ($8,700) to be at least 100% of the total tax shown on her 2013 return ($8,746). Can you file 1040ez online Jane must increase her withholding or pay estimated tax for 2014. Can you file 1040ez online Example 3. Can you file 1040ez online The facts are the same as in Example 2, except that the total tax shown on Jane's 2013 return was $8,600. Can you file 1040ez online Because she expects to have more than $8,600 withheld in 2014 ($8,700), her answer to box 2b is YES. Can you file 1040ez online Jane does not need to pay estimated tax for 2014. Can you file 1040ez online Married Taxpayers If you qualify to make joint estimated tax payments, apply the rules discussed here to your joint estimated income. Can you file 1040ez online You and your spouse can make joint estimated tax payments even if you are not living together. Can you file 1040ez online However, you and your spouse cannot make joint estimated tax payments if: You are legally separated under a decree of divorce or separate maintenance, You and your spouse have different tax years, Either spouse is a nonresident alien (unless that spouse elected to be treated as a resident alien for tax purposes). Can you file 1040ez online See Choosing Resident Alien Status in Publication 519, or Individuals of the same sex and opposite sex who are in registered domestic partnerships, civil unions, or other similar formal relationships that are not marriages under state law cannot make joint estimated tax payments. Can you file 1040ez online These individuals can take credit only for the estimated tax payments that he or she made. Can you file 1040ez online If you and your spouse cannot make joint estimated tax payments, apply these rules to your separate estimated income. Can you file 1040ez online Making joint or separate estimated tax payments will not affect your choice of filing a joint tax return or separate returns for 2014. Can you file 1040ez online 2013 separate returns and 2014 joint return. Can you file 1040ez online   If you plan to file a joint return with your spouse for 2014, but you filed separate returns for 2013, your 2013 tax is the total of the tax shown on your separate returns. Can you file 1040ez online You filed a separate return if you filed as single, head of household, or married filing separately. Can you file 1040ez online 2013 joint return and 2014 separate returns. Can you file 1040ez online   If you plan to file a separate return for 2014, but you filed a joint return for 2013, your 2013 tax is your share of the tax on the joint return. Can you file 1040ez online You file a separate return if you file as single, head of household, or married filing separately. Can you file 1040ez online   To figure your share of the tax on a joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2013 using the same filing status for 2014. Can you file 1040ez online Then multiply the tax on the joint return by the following fraction. Can you file 1040ez online      The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Can you file 1040ez online Joe and Heather filed a joint return for 2013 showing taxable income of $48,500 and a tax of $6,386. Can you file 1040ez online Of the $48,500 taxable income, $40,100 was Joe's and the rest was Heather's. Can you file 1040ez online For 2014, they plan to file married filing separately. Can you file 1040ez online Joe figures his share of the tax on the 2013 joint return as follows: Tax on $40,100 based on separate return $5,960 Tax on $8,400 based on separate return 843 Total $6,803 Joe's percentage of total ($5,960 ÷ $6,803) 87. Can you file 1040ez online 6% Joe's share of tax on joint return  ($6,386 × 87. Can you file 1040ez online 6%) $5,594 Special Rules There are special rules for farmers, fishermen, and certain higher income taxpayers. Can you file 1040ez online Farmers and Fishermen If at least two-thirds of your gross income for 2013 or 2014 is from farming or fishing, substitute 662/3% for 90% in (2a) under General Rule , earlier. Can you file 1040ez online Gross income. Can you file 1040ez online   Your gross income is all income you receive in the form of money, goods, property, and services that is not exempt from tax. Can you file 1040ez online To determine whether two-thirds of your gross income for 2013 was from farming or fishing, use as your gross income the total of the income (not loss) amounts. Can you file 1040ez online Joint returns. Can you file 1040ez online   On a joint return, you must add your spouse's gross income to your gross income to determine if at least two-thirds of your total gross income is from farming or fishing. Can you file 1040ez online Gross income from farming. Can you file 1040ez online   This is income from cultivating the soil or raising agricultural commodities. Can you file 1040ez online It includes the following amounts. Can you file 1040ez online Income from operating a stock, dairy, poultry, bee, fruit, or truck farm. Can you file 1040ez online Income from a plantation, ranch, nursery, range, orchard, or oyster bed. Can you file 1040ez online Crop shares for the use of your land. Can you file 1040ez online Gains from sales of draft, breeding, dairy, or sporting livestock. Can you file 1040ez online   For 2013, gross income from farming is the total of the following amounts. Can you file 1040ez online Schedule F (Form 1040), Profit or Loss From Farming, line 9. Can you file 1040ez online Form 4835, Farm Rental Income and Expenses, line 7. Can you file 1040ez online Your share of the gross farming income from a partnership, S corporation, estate or trust, from: Schedule K-1 (Form 1065), Schedule K-1 (Form 1120S), or Schedule K-1 (Form 1041). Can you file 1040ez online Your gains from sales of draft, breeding, dairy, or sporting livestock shown on Form 4797, Sales of Business Property. Can you file 1040ez online   Wages you receive as a farm employee and wages you receive from a farm corporation are not gross income from farming. Can you file 1040ez online Gross income from fishing. Can you file 1040ez online   This is income from catching, taking, harvesting, cultivating, or farming any kind of fish, shellfish (for example, clams and mussels), crustaceans (for example, lobsters, crabs, and shrimp), sponges, seaweeds, or other aquatic forms of animal and vegetable life. Can you file 1040ez online   Gross income from fishing includes the following amounts. Can you file 1040ez online Schedule C (Form 1040), Profit or Loss From Business. Can you file 1040ez online Income for services as an officer or crew member of a vessel while the vessel is engaged in fishing. Can you file 1040ez online Your share of the gross fishing income from a partnership, S corporation, estate or trust, from: Schedule K-1 (Form 1065), Schedule K-1 (Form 1120S), or Schedule K-1 (Form 1041). Can you file 1040ez online Certain taxable interest and punitive damage awards received in connection with the Exxon Valdez litigation. Can you file 1040ez online Income for services normally performed in connection with fishing. Can you file 1040ez online Services normally performed in connection with fishing include: Shore service as an officer or crew member of a vessel engaged in fishing, and Services that are necessary for the immediate preservation of the catch, such as cleaning, icing, and packing the catch. Can you file 1040ez online Higher Income Taxpayers If your AGI for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing a separate return), substitute 110% for 100% in (2b) under General Rule , earlier. Can you file 1040ez online For 2013, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Can you file 1040ez online Note. Can you file 1040ez online This rule does not apply to farmers and fishermen. Can you file 1040ez online Aliens Resident and nonresident aliens also may have to pay estimated tax. Can you file 1040ez online Resident aliens should follow the rules in this publication, unless noted otherwise. Can you file 1040ez online Nonresident aliens should get Form 1040-ES (NR), U. Can you file 1040ez online S. Can you file 1040ez online Estimated Tax for Nonresident Alien Individuals. Can you file 1040ez online You are an alien if you are not a citizen or national of the United States. Can you file 1040ez online You are a resident alien if you either have a green card or meet the substantial presence test. Can you file 1040ez online For more information about withholding, the substantial presence test, and Form 1040-ES (NR), see Publication 519. Can you file 1040ez online Estates and Trusts Estates and trusts also must pay estimated tax. Can you file 1040ez online However, estates (and certain grantor trusts that receive the residue of the decedent's estate under the decedent's will) are exempt from paying estimated tax for the first 2 years after the decedent's death. Can you file 1040ez online Estates and trusts must use Form 1041-ES, Estimated Income Tax for Estates and Trusts, to figure and pay estimated tax. Can you file 1040ez online How To Figure Estimated Tax To figure your estimated tax, you must figure your expected AGI, taxable income, taxes, deductions, and credits for the year. Can you file 1040ez online When figuring your 2014 estimated tax, it may be helpful to use your income, deductions, and credits for 2013 as a starting point. Can you file 1040ez online Use your 2013 federal tax return as a guide. Can you file 1040ez online You can use Form 1040-ES to figure your estimated tax. Can you file 1040ez online Nonresident aliens use Form 1040-ES (NR) to figure estimated tax. Can you file 1040ez online You must make adjustments both for changes in your own situation and for recent changes in the tax law. Can you file 1040ez online Some of these changes are discussed under What's New for 2014 , earlier. Can you file 1040ez online For information about these and other changes in the law, visit the IRS website at IRS. Can you file 1040ez online gov. Can you file 1040ez online The instructions for Form 1040-ES include a worksheet to help you figure your estimated tax. Can you file 1040ez online Keep the worksheet for your records. Can you file 1040ez online 2014 Estimated Tax Worksheet Use Worksheet 2-1 to help guide you through the information about completing the 2014 Estimated Tax Worksheet. Can you file 1040ez online You can also find a copy of the worksheet in the Instructions for Form 1040-ES. Can you file 1040ez online Expected AGI—Line 1 Your expected AGI for 2014 (line 1) is your expected total income minus your expected adjustments to income. Can you file 1040ez online Total income. Can you file 1040ez online   Include in your total income all the income you expect to receive during the year, even income that is subject to withholding. Can you file 1040ez online However, do not include income that is tax exempt. Can you file 1040ez online   Total income includes all income and loss for 2014 that, if you had received it in 2013, would have been included on your 2013 tax return in the total on line 22 of Form 1040, line 15 of Form 1040A, or line 4 of Form 1040EZ. Can you file 1040ez online Social security and railroad retirement benefits. Can you file 1040ez online If you expect to receive social security or tier 1 railroad retirement benefits during 2014, use Worksheet 2-2 to figure the amount of expected taxable benefits you should include on line 1. Can you file 1040ez online Adjustments to income. Can you file 1040ez online   Be sure to subtract from your expected total income all of the adjustments you expect to take on your 2014 tax return. Can you file 1040ez online Self-employed. Can you file 1040ez online If you expect to have income from self-employment, use Worksheet 2-3 to figure your expected self-employment tax and your allowable deduction for self-employment tax. Can you file 1040ez online Include the amount from Worksheet 2-3 in your expected adjustments to income. Can you file 1040ez online If you file a joint return and both you and your spouse have net earnings from self-employment, each of you must complete a separate worksheet. Can you file 1040ez online Expected Taxable Income— Lines 2–5 Reduce your expected AGI for 2014 (line 1) by either your expected itemized deductions or your standard deduction and by your exemptions (lines 2 through 5). Can you file 1040ez online Itemized deductions—line 2. Can you file 1040ez online   If you expect to claim itemized deductions on your 2014 tax return, enter the estimated amount on line 2. Can you file 1040ez online   Itemized deductions are the deductions that can be claimed on Schedule A (Form 1040). Can you file 1040ez online    For 2014, your total itemized deductions may be reduced if your AGI is more than the amount shown next for your filing status. Can you file 1040ez online Single $254,200 Married filing jointly or qualifying widow(er) $305,050 Married filing separately $152,525 Head of household $279,650   If you expect your AGI to be more than this amount, use Worksheet 2-5 to figure the amount to enter on line 2. Can you file 1040ez online Standard deduction—line 2. Can you file 1040ez online   If you expect to claim the standard deduction on your 2014 tax return, enter the amount on line 2. Can you file 1040ez online Use Worksheet 2-4 to figure your standard deduction. Can you file 1040ez online No standard deduction. Can you file 1040ez online   The standard deduction for some individuals is zero. Can you file 1040ez online Your standard deduction will be zero if you: File a separate return and your spouse itemizes deductions, Are a dual-status alien, or File a return for a period of less than 12 months because you change your accounting period. Can you file 1040ez online Exemptions—line 4. Can you file 1040ez online   After you have subtracted either your expected itemized deductions or your standard deduction from your expected AGI, reduce the amount remaining by $3,950 for each exemption you expect to take on your 2014 tax return. Can you file 1040ez online If another person (such as your parent) can claim an exemption for you on his or her tax return, you cannot claim your own personal exemption. Can you file 1040ez online This is true even if the other person will not claim your exemption or the exemption will be reduced or eliminated under the phaseout rule. Can you file 1040ez online    For 2014, your deduction for personal exemption is reduced if your AGI is more than the amount shown next for your filing status. Can you file 1040ez online Single $254,200 Married filing jointly or qualifying widow(er) $305,050 Married filing separately $152,525 Head of household $279,650   If you expect your AGI to be more than this amount, use Worksheet 2-6 to figure the amount to enter on line 4. Can you file 1040ez online Expected Taxes and Credits— Lines 6–13c After you have figured your expected taxable income (line 5), follow the steps next to figure your expected taxes, credits, and total tax for 2014. Can you file 1040ez online Most people will have entries for only a few of these steps. Can you file 1040ez online However, you should check every step to be sure you do not overlook anything. Can you file 1040ez online Step 1. Can you file 1040ez online   Figure your expected income tax (line 6). Can you file 1040ez online Generally, you will use the 2014 Tax Rate Schedules, later, to figure your expected income tax. Can you file 1040ez online   However, see below for situations where you must use a different method to compute your estimated tax. Can you file 1040ez online Tax on child's investment income. Can you file 1040ez online   You must use a special method to figure tax on the income of the following children who have more than $2,000 of investment income. Can you file 1040ez online Children under age 18 at the end of 2014. Can you file 1040ez online The following children if their earned income is not more than half their support. Can you file 1040ez online Children age 18 at the end of 2014. Can you file 1040ez online Children who are full-time students over age 18 and under age 24 at the end of 2014. Can you file 1040ez online See Publication 929, Tax Rules for Children and Dependents. Can you file 1040ez online Although the ages and dollar amounts in the publication may be different in the 2014 revision, this reference will give you basic information for figuring the tax. Can you file 1040ez online Tax on net capital gain. Can you file 1040ez online   The regular income tax rates for individuals do not apply to a net capital gain. Can you file 1040ez online Instead, your net capital gain is taxed at a lower maximum rate. Can you file 1040ez online   The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Can you file 1040ez online Tax on capital gain and qualified dividends. Can you file 1040ez online If the amount on line 1 includes a net capital gain or qualified dividends, use Worksheet 2-7 to figure your tax. Can you file 1040ez online Note. Can you file 1040ez online For 2014, your capital gains and dividends rate will depend on your income. Can you file 1040ez online Tax if excluding foreign earned income or excluding or deducting foreign housing. Can you file 1040ez online If you expect to claim the foreign earned income exclusion or the housing exclusion or deduction on Form 2555 or Form 2555-EZ, use Worksheet 2-8 to figure your estimated tax. Can you file 1040ez online Step 2. Can you file 1040ez online   Total your expected taxes (line 8). Can you file 1040ez online Include on line 8 the sum of the following. Can you file 1040ez online Your tax on line 6. Can you file 1040ez online Your expected alternative minimum tax (AMT) from Form 6251, or included on Form 1040A. Can you file 1040ez online Your expected additional taxes from Form 8814, Parents' Election To Report Child's Interest and Dividends, and Form 4972, Tax on Lump-Sum Distributions. Can you file 1040ez online Any recapture of education credits. Can you file 1040ez online Step 3. Can you file 1040ez online   Subtract your expected credits (line 9). Can you file 1040ez online If you are using your 2013 return as a guide and filed Form 1040, your total credits for 2013 were shown on line 54. Can you file 1040ez online If you filed Form 1040A, your total credits for 2013 were on line 34. Can you file 1040ez online   If your credits on line 9 are more than your taxes on line 8, enter “-0-” on line 10 and go to Step 4. Can you file 1040ez online Step 4. Can you file 1040ez online   Add your expected self-employment tax (line 11). Can you file 1040ez online You already should have figured your self-employment tax (see Self-employed under Expected AGI—Line 1, earlier). Can you file 1040ez online Step 5. Can you file 1040ez online   Add your expected other taxes (line 12). Can you file 1040ez online   Other taxes include the following. Can you file 1040ez online Additional tax on early distributions from: An IRA or other qualified retirement plan, A tax-sheltered annuity, or A modified endowment contract entered into after June 20, 1988. Can you file 1040ez online Household employment taxes if: You will have federal income tax withheld from wages, pensions, annuities, gambling winnings, or other income, or You would be required to make estimated tax payments even if you did not include household employment taxes when figuring your estimated tax. Can you file 1040ez online Amounts written on Form 1040 on the line for “other taxes” (line 60 on the 2013 Form 1040). Can you file 1040ez online But, do not include recapture of a federal mortgage subsidy; tax on excess golden parachute payments; look-back interest due under section 167(g) or 460(b) of the Internal Revenue Code; excise tax on insider stock compensation from an expatriated corporation; uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance; or additional tax on advance payments of health coverage tax credit when not eligible. Can you file 1040ez online Repayment of the first-time homebuyer credit. Can you file 1040ez online See Form 5405. Can you file 1040ez online Additional Medicare Tax. Can you file 1040ez online A 0. Can you file 1040ez online 9% Additional Medicare Tax applies to your combined Medicare wages and self-employment income and/or your RRTA compensation that exceeds the amount listed in the following chart, based on your filing status. Can you file 1040ez online Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household $200,000 Qualifying Widow(er) $200,000 Medicare wages and self-employment income are combined to determine if your income exceeds the threshold. Can you file 1040ez online A self-employment loss should not be considered for purposes of this tax. Can you file 1040ez online RRTA compensation should be separately compared to the threshold. Can you file 1040ez online Your employer is responsible for withholding the 0. Can you file 1040ez online 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000 in 2014. Can you file 1040ez online You should consider this withholding, if applicable, in determining whether you need to make an estimated payment. Can you file 1040ez online For more information on Additional Medicare Tax, go to IRS. Can you file 1040ez online gov and enter “Additional Medicare Tax” in the search box. Can you file 1040ez online Net Investment Income Tax (NIIT). Can you file 1040ez online The NIIT is 3. Can you file 1040ez online 8% of the lesser of your net investment income or the excess of your modified adjusted gross income over the amount listed in the following chart, based on your filing status. Can you file 1040ez online Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household $200,000 Qualifying Widow(er) $250,000 For more information on Net Investment Income Tax, go to IRS. Can you file 1040ez online gov and enter “Net Investment Income Tax” in the search box. Can you file 1040ez online Step 6. Can you file 1040ez online   Subtract your refundable credit (line 13b). Can you file 1040ez online   To figure your expected fuel tax credit, do not include fuel tax for the first three quarters of the year that you expect to have refunded to you. Can you file 1040ez online   The result of steps 1 through 6 is your total estimated tax for 2014 (line 13c). Can you file 1040ez online Required Annual Payment— Line 14c On lines 14a through 14c, figure the total amount you must pay for 2014, through withholding and estimated tax payments, to avoid paying a penalty. Can you file 1040ez online General rule. Can you file 1040ez online   The total amount you must pay is the smaller of: 90% of your total expected tax for 2014, or 100% of the total tax shown on your 2013 return. Can you file 1040ez online Your 2013 tax return must cover all 12 months. Can you file 1040ez online Special rules. Can you file 1040ez online   There are special rules for higher income taxpayers and for farmers and fishermen. Can you file 1040ez online Higher income taxpayers. Can you file 1040ez online   If your AGI for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing separately), substitute 110% for 100% in (2) above. Can you file 1040ez online This rule does not apply to farmers and fishermen. Can you file 1040ez online For 2013, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Can you file 1040ez online Example. Can you file 1040ez online   Jeremy Martin's total tax on his 2013 return was $42,581, and his expected tax for 2014 is $71,253. Can you file 1040ez online His 2013 AGI was $180,000. Can you file 1040ez online Because Jeremy had more than $150,000 of AGI in 2013, he figures his required annual payment as follows. Can you file 1040ez online He determines that 90% of his expected tax for 2014 is $64,128 (. Can you file 1040ez online 90 × $71,253). Can you file 1040ez online Next, he determines that 110% of the tax shown on his 2013 return is $46,839 (1. Can you file 1040ez online 10 x $42,581). Can you file 1040ez online Finally, he determines that his required annual payment is $46,839, the smaller of the two. Can you file 1040ez online Farmers and fishermen. Can you file 1040ez online   If at least two-thirds of your gross income for 2013 or 2014 is from farming or fishing, your required annual payment is the smaller of: 662/3% (. Can you file 1040ez online 6667) of your total tax for 2014, or 100% of the total tax shown on your 2013 return. Can you file 1040ez online (Your 2013 tax return must cover all 12 months. Can you file 1040ez online )   For definitions of “gross income from farming” and “gross income from fishing,” see Farmers and Fishermen , under Special Rules discussed earlier. Can you file 1040ez online Total tax for 2013—line 14b. Can you file 1040ez online   Your 2013 total tax, if you filed Form 1040, is the amount on line 61 reduced by the following. Can you file 1040ez online Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Can you file 1040ez online The following amounts from Form 5329 included on line 58. Can you file 1040ez online Any tax on excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts. Can you file 1040ez online Any tax on excess accumulations in qualified retirement plans. Can you file 1040ez online The following write-ins on line 60. Can you file 1040ez online Excise tax on excess golden parachute payments (identified as “EPP”). Can you file 1040ez online Excise tax on insider stock compensation from an expatriated corporation (identified as “ISC”). Can you file 1040ez online Look-back interest due under section 167(g) (identified as “From Form 8866”). Can you file 1040ez online Look-back interest due under section 460(b) (identified as “From Form 8697”). Can you file 1040ez online Recapture of federal mortgage subsidy (identified as “FMSR”). Can you file 1040ez online Additional tax on advance payments of health coverage tax credit when not eligible (identified as “HCTC”). Can you file 1040ez online Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance (identified as “UT”). Can you file 1040ez online Any refundable credit amounts. Can you file 1040ez online   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits. Can you file 1040ez online   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. Can you file 1040ez online Total Estimated Tax Payments Needed—Line 16a Use lines 15 and 16a to figure the total estimated tax you may be required to pay for 2014. Can you file 1040ez online Subtract your expected withholding from your required annual payment (line 14c). Can you file 1040ez online You usually must pay this difference in four equal installments. Can you file 1040ez online See When To Pay Estimated Tax and How To Figure Each Payment . Can you file 1040ez online You do not have to pay estimated tax if: Line 14c minus line 15 is zero or less, or Line 13c minus line 15 is less than $1,000. Can you file 1040ez online Withholding—line 15. Can you file 1040ez online   Your expected withholding for 2014 (line 15) includes the income tax you expect to be withheld from all sources (wages, pensions and annuities, etc. Can you file 1040ez online ). Can you file 1040ez online It includes excess social security, and tier 1 railroad retirement tax you expect to be withheld from your wages and compensation. Can you file 1040ez online For this purpose, you will have excess social security or tier 1 railroad retirement tax withholding for 2014 only if your wages and compensation from two or more employers are more than $117,000. Can you file 1040ez online See Excess Social Security or Railroad Retirement Tax Withholding in chapter 3. Can you file 1040ez online   It also includes Additional Medicare Tax you expect to be withheld from your wages or compensation. Can you file 1040ez online Your employer is responsible for withholding the 0. Can you file 1040ez online 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000. Can you file 1040ez online When To Pay Estimated Tax For estimated tax purposes, the year is divided into four payment periods. Can you file 1040ez online Each period has a specific payment due date. Can you file 1040ez online If you do not pay enough tax by the due date of each of the payment periods, you may be charged a penalty even if you are due a refund when you file your income tax return. Can you file 1040ez online If a payment is mailed, the date of the U. Can you file 1040ez online S. Can you file 1040ez online postmark is considered the date of payment. Can you file 1040ez online The payment periods and due dates for estimated tax payments are shown next. Can you file 1040ez online For exceptions to the dates listed, see Saturday, Sunday, holiday rule below. Can you file 1040ez online For the period: Due date: Jan. Can you file 1040ez online 11 – March 31 April 15 April 1 – May 31 June 16 June 1 – August 31 September 15 Sept. Can you file 1040ez online 1 – Dec. Can you file 1040ez online 31 January 15  next year2 1If your tax year does not begin on January 1,  see Fiscal year taxpayers . Can you file 1040ez online 2See January payment . Can you file 1040ez online Saturday, Sunday, holiday rule. Can you file 1040ez online   If the due date for an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday, or a holiday. Can you file 1040ez online January payment. Can you file 1040ez online   If you file your 2014 Form 1040 or Form 1040A by February 2, 2015, and pay the rest of the tax you owe, you do not need to make the payment due on January 15, 2015. Can you file 1040ez online Example. Can you file 1040ez online Janet Adams does not pay any estimated tax for 2014. Can you file 1040ez online She files her 2014 income tax return and pays the balance due shown on her return on January 26, 2015. Can you file 1040ez online Janet's estimated tax for the fourth payment period is considered to have been paid on time. Can you file 1040ez online However, she may owe a penalty for not making the first three estimated tax payments, if required. Can you file 1040ez online Any penalty for not making those payments will be figured up to January 26, 2015. Can you file 1040ez online Fiscal year taxpayers. Can you file 1040ez online   If your tax year does not start on January 1, your payment due dates are: The 15th day of the 4th month of your fiscal year, The 15th day of the 6th month of your fiscal year, The 15th day of the 9th month of your fiscal year, and The 15th day of the 1st month after the end of your fiscal year. Can you file 1040ez online   You do not have to make the last payment listed above if you file your income tax return by the last day of the first month after the end of your fiscal year and pay all the tax you owe with your return. Can you file 1040ez online When To Start You do not have to make estimated tax payments until you have income on which you will owe income tax. Can you file 1040ez online If you have income subject to estimated tax during the first payment period, you must make your first payment by the due date for the first payment period. Can you file 1040ez online You have several options when paying estimated taxes. Can you file 1040ez online You can: apply an overpayment from the previous tax year, pay all your estimated tax by the due date of your first payment, or pay it in installments. Can you file 1040ez online If you choose to pay in installments, make your first payment by the due date for the first payment period. Can you file 1040ez online Make your remaining installment payments by the due dates for the later periods. Can you file 1040ez online To avoid any estimated tax penalties, all installments must be paid by their due date and for the required amount. Can you file 1040ez online No income subject to estimated tax during first period. Can you file 1040ez online   If you do not have income subject to estimated tax until a later payment period, you must make your first payment by the due date for that period. Can you file 1040ez online You can pay your entire estimated tax by the due date for that period or you can pay it in installments by the due date for that period and the due dates for the remaining periods. Can you file 1040ez online Table 2-1 shows the dates for making installment payments. Can you file 1040ez online    Table 2-1. Can you file 1040ez online Due Dates for Estimated Tax Installment Payments If you first have income on which you must pay estimated tax: Make a payment  by:* Make later  installments  by:* Before April 1 April 15 June 16     Sept. Can you file 1040ez online 15     Jan. Can you file 1040ez online 15 next year April 1–May 31 June 16 Sept. Can you file 1040ez online 15     Jan. Can you file 1040ez online 15 next year June 1–Aug. Can you file 1040ez online 31 Sept. Can you file 1040ez online 15 Jan. Can you file 1040ez online 15 next year After Aug. Can you file 1040ez online 31 Jan. Can you file 1040ez online 15 next year (None) *See January payment and Saturday, Sunday, holiday rule . Can you file 1040ez online How much to pay to avoid penalty. Can you file 1040ez online   To determine how much you should pay by each payment due date, see How To Figure Each Payment , later. Can you file 1040ez online Farmers and Fishermen If at least two-thirds of your gross income for 2013 or 2014 is from farming or fishing, you have only one payment due date for your 2014 estimated tax, January 15, 2015. Can you file 1040ez online The due dates for the first three payment periods, discussed under When To Pay Estimated Tax , earlier, do not apply to you. Can you file 1040ez online If you file your 2014 Form 1040 by March 2, 2015, and pay all the tax you owe at that time, you do not need to make an estimated tax payment. Can you file 1040ez online Fiscal year farmers and fishermen. Can you file 1040ez online   If you are a farmer or fisherman, but your tax year does not start on January 1, you can either: Pay all your estimated tax by the 15th day after the end of your tax year, or File your return and pay all the tax you owe by the 1st day of the 3rd month after the end of your tax year. Can you file 1040ez online How To Figure Each Payment After you have figured your total estimated tax, figure how much you must pay by the due date of each payment period. Can you file 1040ez online You should pay enough by each due date to avoid a penalty for that period. Can you file 1040ez online If you do not pay enough during any payment period, you may be charged a penalty even if you are due a refund when you file your tax return. Can you file 1040ez online The penalty is discussed in chapter 4. Can you file 1040ez online Regular Installment Method If your first estimated tax payment is due April 15, 2014, you can figure your required payment for each period by dividing your annual estimated tax due (line 16a of the 2014 Estimated Tax Worksheet (Worksheet 2-1)) by 4. Can you file 1040ez online Enter this amount on line 17. Can you file 1040ez online However, use this method only if your income is basically the same throughout the year. Can you file 1040ez online Change in estimated tax. Can you file 1040ez online   After you make an estimated tax payment, changes in your income, adjustments, deductions, credits, or exemptions may make it necessary for you to refigure your estimated tax. Can you file 1040ez online Pay the unpaid balance of your amended estimated tax by the next payment due date after the change or in installments by that date and the due dates for the remaining payment periods. Can you file 1040ez online If you do not receive your income evenly throughout the year, your required estimated tax payments may not be the same for each period. Can you file 1040ez online See Annualized Income Installment Method . Can you file 1040ez online Amended estimated tax. Can you file 1040ez online If you refigure your estimated tax during the year, or if your first estimated tax payment is due after April 15, 2014, figure your required payment for each remaining payment period using Worksheet 2-14. Can you file 1040ez online Example. Can you file 1040ez online Early in 2014, Mira Roberts figures that her estimated tax due is $1,800. Can you file 1040ez online She makes estimated tax payments on April 15 and June 16 of $450 each ($1,800 ÷ 4). Can you file 1040ez online On July 10, she sells investment property at a gain. Can you file 1040ez online Her refigured estimated tax is $4,100. Can you file 1040ez online Her required estimated tax payment for the third payment period is $2,175, as shown in her filled-in Worksheet 2-14. Can you file 1040ez online If Mira's estimated tax does not change again, her required estimated tax payment for the fourth payment period will be $1,025. Can you file 1040ez online Worksheet 2-14. Can you file 1040ez online Amended Estimated Tax Worksheet—Illustrated               1. Can you file 1040ez online Amended total estimated tax due 1. Can you file 1040ez online $4,100 2. Can you file 1040ez online Multiply line 1 by:           50% (. Can you file 1040ez online 50) if next payment is due June 16, 2014           75% (. Can you file 1040ez online 75) if next payment is due September 15,  2014           100% (1. Can you file 1040ez online 00) if next payment is due January 15,  2015 2. Can you file 1040ez online 3,075     3. Can you file 1040ez online Estimated tax payments for all previous periods 3. Can you file 1040ez online 900     4. Can you file 1040ez online Next required payment: Subtract line 3 from line 2 and enter the result (but not less than zero) here and on your payment voucher for your next required payment 4. Can you file 1040ez online $2,175       Note. Can you file 1040ez online If the payment on line 4 is due January 15, 2015, stop here. Can you file 1040ez online Otherwise, go to line 5. Can you file 1040ez online         5. Can you file 1040ez online Add lines 3 and 4 5. Can you file 1040ez online 3,075 6. Can you file 1040ez online Subtract line 5 from line 1 and enter the result (but not less than zero) 6. Can you file 1040ez online 1,025 7. Can you file 1040ez online Each following required payment: If the payment on line 4 is due June 16, 2014, enter one-half of the amount on line 6 here and on the payment vouchers for your payments due September 15, 2014, and January 15, 2015. Can you file 1040ez online If the amount on line 4 is due September 15, 2014, enter the amount from line 6 here and on the payment voucher for your payment due January 15, 2015 7. Can you file 1040ez online $1,025 Worksheet 2-14. Can you file 1040ez online Amended Estimated Tax Worksheet—Blank               1. Can you file 1040ez online Amended total estimated tax due 1. Can you file 1040ez online   2. Can you file 1040ez online Multiply line 1 by:           50% (. Can you file 1040ez online 50) if next payment is due June 16, 2014           75% (. Can you file 1040ez online 75) if next payment is due September 15,  2014           100% (1. Can you file 1040ez online 00) if next payment is due January 15,  2015 2. Can you file 1040ez online       3. Can you file 1040ez online Estimated tax payments for all previous periods 3. Can you file 1040ez online       4. Can you file 1040ez online Next required payment: Subtract line 3 from line 2 and enter the result (but not less than zero) here and on your payment voucher for your next required payment 4. Can you file 1040ez online         Note. Can you file 1040ez online If the payment on line 4 is due January 15, 2015, stop here. Can you file 1040ez online Otherwise, go to line 5. Can you file 1040ez online         5. Can you file 1040ez online Add lines 3 and 4 5. Can you file 1040ez online   6. Can you file 1040ez online Subtract line 5 from line 1 and enter the result (but not less than zero) 6. Can you file 1040ez online   7. Can you file 1040ez online Each following required payment: If the payment on line 4 is due June 16, 2014, enter one-half of the amount on line 6 here and on the payment vouchers for your payments due September 15, 2014, and January 15, 2015. Can you file 1040ez online If the amount on line 4 is due September 15, 2014, enter the amount from line 6 here and on the payment voucher for your payment due January 15, 2015 7. Can you file 1040ez online   Underpayment penalty. Can you file 1040ez online   The penalty is figured separately for each payment period. Can you file 1040ez online If you figure your payments using the regular installment method and later refigure your payments because of an increase in income, you may be charged a penalty for underpayment of estimated tax for the period(s) before you changed your payments. Can you file 1040ez online To see how you may be able to avoid or reduce this penalty, see Annualized Income Installment Method (Schedule AI) in chapter 4. Can you file 1040ez online Annualized Income Installment Method If you do not receive your income evenly throughout the year (for example, your income from a repair shop you operate is much larger in the summer than it is during the rest of the year), your required estimated tax payment for one or more periods may be less than the amount figured using the regular installment method. Can you file 1040ez online The annualized income installment method annualizes your tax at the end of each period based on a reasonable estimate of your income, deductions, and other items relating to events that occurred from the beginning of the tax year through the end of the period. Can you file 1040ez online To see whether you can pay less for any period, complete the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9). Can you file 1040ez online You first must complete the 2014 Estimated Tax Worksheet (Worksheet 2-1) through line 16b. Can you file 1040ez online Use the result you figure on line 32 of Worksheet 2-9 to make your estimated tax payments and complete your payment vouchers. Can you file 1040ez online Note. Can you file 1040ez online If you use the annualized income installment method to figure your estimated tax payments, you must file Form 2210 with your 2014 tax return. Can you file 1040ez online See Annualized Income Installment Method (Schedule AI) in chapter 4 for more information. Can you file 1040ez online Instructions for the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9) Use Worksheet 2-9 to help you follow these instructions. Can you file 1040ez online The purpose of this worksheet is to determine your estimated tax liability as your income accumulates throughout the year, rather than dividing your entire year's estimated tax liability by four as if your income was earned equally throughout the year. Can you file 1040ez online The top of the worksheet shows the dates for each payment period. Can you file 1040ez online The periods build; that is, each period includes all previous periods. Can you file 1040ez online After the end of each payment period, complete the corresponding worksheet column to figure the payment due for that period. Can you file 1040ez online Line 1. Can you file 1040ez online   Enter your AGI for the period. Can you file 1040ez online This is your gross income for the period, including your share of partnership or S corporation income or loss, minus your adjustments to income for that period. Can you file 1040ez online See Expected AGI—Line 1 , earlier. Can you file 1040ez online Self-employment income. Can you file 1040ez online   If you had self-employment income, first complete Section B of this worksheet. Can you file 1040ez online Use the amounts on line 43 when figuring your expected AGI to enter in each column of Section A, line 1. Can you file 1040ez online Line 4. Can you file 1040ez online   Be sure to consider all deduction limits figured on Schedule A (Form 1040), such as reducing your medical expenses by 10% (7. Can you file 1040ez online 5% if either you or your spouse was born before January 2, 1950) or reducing certain miscellaneous deductions by 2% of your AGI. Can you file 1040ez online Figure your deduction limits using your expected AGI in the corresponding column of line 1 (2014 Annualized Estimated Tax Worksheet (Worksheet 2-9)). Can you file 1040ez online Line 6. Can you file 1040ez online   Multiply line 4 by line 5 and enter the result on line 6 unless line 3 is more than $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, or $152,525 if married filing separately. Can you file 1040ez online In that case, use Worksheet 2-10 to figure the amount to enter on line 6. Can you file 1040ez online Complete Worksheet 2–10 for each period, as necessary. Can you file 1040ez online Line 7. Can you file 1040ez online   If you will not itemize your deductions, use Worksheet 2-4 to figure your standard deduction. Can you file 1040ez online Line 10. Can you file 1040ez online   Multiply $3,950 by your total expected exemptions and enter the result on line 10 unless line 3 is more than $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, or $152,525 if married filing separately. Can you file 1040ez online   In that case, use Worksheet 2-11 to figure the amount to enter on line 10. Can you file 1040ez online Line 12. Can you file 1040ez online   Generally, you will use the Tax Rate Schedules to figure the tax on your annualized income. Can you file 1040ez online However, see below for situations where you must use a different method to compute your estimated tax. Can you file 1040ez online Tax on child's investment income. Can you file 1040ez online   You must use a special method to figure tax on the income of the following children who have more than $2,000 of investment income. Can you file 1040ez online Children under age 18 at the end of 2014. Can you file 1040ez online The following children if their earned income is not more than half their support. Can you file 1040ez online Children age 18 at the end of 2014. Can you file 1040ez online Children who are full-time students over age 18 and under age 24 at the end of 2014. Can you file 1040ez online See Publication 929. Can you file 1040ez online Tax on net capital gain. Can you file 1040ez online   The regular income tax rates for individuals do not apply to a net capital gain. Can you file 1040ez online Instead, your net capital gain is taxed at a lower maximum rate. Can you file 1040ez online   The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Can you file 1040ez online Tax on qualified dividends and capital gains. Can you file 1040ez online   For 2014, your capital gain and dividends rate will depend on your income. Can you file 1040ez online Tax on capital gain or qualified dividends. Can you file 1040ez online If the amount on line 1 includes a net capital gain or qualified dividends, use Worksheet 2-12 to figure the amount to enter on line 12. Can you file 1040ez online Tax if excluding foreign earned income or excluding or deducting foreign housing. Can you file 1040ez online If you expect to claim the foreign earned income exclusion or the housing exclusion or deduction on Form 2555 or Form 2555-EZ, use Worksheet 2-13 to figure the amount to enter on line 12. Can you file 1040ez online Line 13. Can you file 1040ez online   If you file Form 1040, add the tax from Forms 8814, 4972, and 6251 for the period. Can you file 1040ez online If you file Form 1040A, add the amount from the Alternative Minimum Tax Worksheet found in the instructions. Can you file 1040ez online Also include any recapture of an education credit for each period. Can you file 1040ez online You may owe this tax if you claimed an education credit in an earlier year and you received either tax-free educational assistance or a refund of qualifying expenses for the same student after filing your 2013 return. Can you file 1040ez online   Use the 2013 forms or worksheets to see if you will owe any of the taxes discussed above. Can you file 1040ez online Figure the tax based on your income and deductions during the period shown in the column headings. Can you file 1040ez online Multiply this amount by the annualization amounts shown for each column on line 2 of the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9). Can you file 1040ez online Enter the result on line 13 of this worksheet. Can you file 1040ez online Line 15. Can you file 1040ez online   Include all the nonrefundable credits you expect to claim because of events that will occur during the period. Can you file 1040ez online Note. Can you file 1040ez online When figuring your credits for each period, annualize any item of income or deduction to figure each credit. Can you file 1040ez online For example, if you need to use your AGI to figure a credit, use line 3 of Worksheet 2-9 to figure the credit for each column. Can you file 1040ez online Line 18. Can you file 1040ez online   Add your expected other taxes. Can you file 1040ez online   Other taxes include the following. Can you file 1040ez online Additional tax on early distributions from: An IRA or other qualified retirement plan, A tax-sheltered annuity, or A modified endowment contract entered into after June 20, 1988. Can you file 1040ez online Household employment taxes if: You will have federal income tax withheld from wages, pensions, annuities, gambling winnings, or other income, or You would be required to make estimated tax payments even if you did not include household employment taxes when figuring your estimated tax. Can you file 1040ez online Amounts on Form 1040 written on the line for “other taxes” (line 60 on the 2013 Form 1040). Can you file 1040ez online But do not include recapture of a federal mortgage subsidy; tax on excess golden parachute payments; look-back interest due under section 167(g) or 460(b) of the Internal Revenue Code; excise tax on insider stock compensation from an expatriated corporation; uncollected social security, Medicare, or RRTA tax on tips or group-term life insurance; or additional tax on advance payments of health coverage tax credit when not eligible. Can you file 1040ez online Repayment of the first-time homebuyer credit if the home will cease to be your main home in 2014. Can you file 1040ez online See Form 5405 for exceptions. Can you file 1040ez online Additional Medicare Tax. Can you file 1040ez online A 0. Can you file 1040ez online 9% Additional Medicare Tax applies to your combined Medicare wages and self-employment income and/or your RRTA compensation that exceeds the amount listed in the following chart, based on your filing status. Can you file 1040ez online Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household $200,000 Qualifying Widow(er) $200,000 Medicare wages and self-employment income are combined to determine if your income exceeds the threshold. Can you file 1040ez online A self-employment loss should not be considered for purposes of this tax. Can you file 1040ez online RRTA compensation should be separately compared to the threshold. Can you file 1040ez online Your employer is responsible for withholding the 0. Can you file 1040ez online 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays you in excess of $200,000 in 2014. Can you file 1040ez online You should consider this withholding, if applicable, in determining whether you need to make an estimated payment. Can you file 1040ez online For more information on Additional Medicare Tax, go to IRS. Can you file 1040ez online gov and enter “Additional Medicare Tax” in the search box. Can you file 1040ez online Net Investment Income Tax (NIIT). Can you file 1040ez online The NIIT is 3. Can you file 1040ez online 8% of the lesser of your net investment income or the excess of your modified adjusted gross income over a specified threshold amount. Can you file 1040ez online Threshold amounts: Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household $200,000 Qualifying Widow(er) $250,000 For more information on Net Investment Income Tax, go to IRS. Can you file 1040ez online gov and enter “Net Investment Income Tax” in the search box. Can you file 1040ez online Line 20. Can you file 1040ez online   Include all the refundable credits (other than withholding credits) you can claim because of events that occurred during the period. Can you file 1040ez online Note. Can you file 1040ez online When figuring your refundable credits for each period, annualize any item of income or deduction used to figure each credit. Can you file 1040ez online Line 29. Can you file 1040ez online   If line 28 is smaller than line 25 and you are not certain of the estimate of your 2014 tax, you can avoid a penalty by entering the amount from line 25 on line 29. Can you file 1040ez online Line 31. Can you file 1040ez online   For each period, include estimated tax payments made and any excess social security and railroad retirement tax. Can you file 1040ez online   Also include estimated federal income tax withholding. Can you file 1040ez online One-fourth of your estimated withholding is considered withheld on the due date of each payment period. Can you file 1040ez online To figure the amount to include on line 31 for each period, multiply your total expected withholding for 2014 by: 25% (. Can you file 1040ez online 25) for the first period, 50% (. Can you file 1040ez online 50) for the second period, 75% (. Can you file 1040ez online 75) for the third period, and 100% (1. Can you file 1040ez online 00) for the fourth period. Can you file 1040ez online   However, you may choose to include your withholding according to the actual dates on which the amounts will be withheld. Can you file 1040ez online For each period, include withholding made from the beginning of the period up to and including the payment due date. Can you file 1040ez online You can make this choice separately for the taxes withheld from your wages and all other withholding. Can you file 1040ez online For an explanation of what to include in withholding, see Total Estimated Tax Payments Needed—Line 16a , earlier. Can you file 1040ez online Nonresident aliens. Can you file 1040ez online   If you will file Form 1040NR and you do not receive wages as an employee subject to U. Can you file 1040ez online S. Can you file 1040ez online income tax withholding, the instructions for the worksheet are modified as follows. Can you file 1040ez online Skip column (a). Can you file 1040ez online On line 1, enter your income for the period that is effectively connected with a U. Can you file 1040ez online S. Can you file 1040ez online trade or business. Can you file 1040ez online On line 21, increase your entry by the amount determined by multiplying your income for the period that is not effectively connected with a U. Can you file 1040ez online S. Can you file 1040ez online trade or business by the following. Can you file 1040ez online 72% for column (b). Can you file 1040ez online 45% for column (c). Can you file 1040ez online 30% for column (d). Can you file 1040ez online However, if you can use a treaty rate lower than 30%, use the percentages determined by multiplying your treaty rate by 2. Can you file 1040ez online 4, 1. Can you file 1040ez online 5, and 1, respectively. Can you file 1040ez online On line 26, enter one-half of the amount from line 16c of the Form 1040-ES (NR) 2014 Estimated Tax Worksheet in column (b), and one-fourth in columns (c) and (d) of Worksheet 2-9. Can you file 1040ez online On lines 24 and 27, skip column (b). Can you file 1040ez online On line 31, if you do not use the actual withholding method, include one-half of your total expected withholding in column (b) and one-fourth in columns (c) and (d). Can you file 1040ez online See Publication 519 for more information. Can you file 1040ez online Estimated Tax Payments Not Required You do not have to pay estimated tax if your withholding in each payment period is at least as much as: One-fourth of your required annual payment, or Your required annualized income installment for that period. Can you file 1040ez online You also do not have to pay estimated tax if you will pay enough through withholding to keep the amount you will owe with your return under $1,000. Can you file 1040ez online How To Pay Estimated Tax There are several ways to pay estimated tax. Can you file 1040ez online Credit an overpayment on your 2013 return to your 2014 estimated tax. Can you file 1040ez online Pay by direct transfer from your bank account, or pay by credit or debit card using a pay-by-phone system or the Internet. Can you file 1040ez online Send in your payment (check or money order) with a payment voucher from Form 1040-ES. Can you file 1040ez online Credit an Overpayment If you show an overpayment of tax after completing your Form 1040 or Form 1040A for 2013, you can apply part or all of it to your estimated tax for 2014. Can you file 1040ez online On Form 1040, or Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Can you file 1040ez online Take the amount you have credited into account when figuring your estimated tax payments. Can you file 1040ez online If you timely file your 2013 return, treat the credit as a payment made on April 15, 2014. Can you file 1040ez online If you are a beneficiary of an estate or trust, and the trustee elects to credit 2014 trust payments of estimated tax to you, you can treat the amount credited as paid by you on January 15, 2015. Can you file 1040ez online If you choose to have an overpayment of tax credited to your estimated tax, you cannot have any of that amount refunded to you until you file your tax return for the following year. Can you file 1040ez online You also cannot use that overpayment in any other way. Can you file 1040ez online Example. Can you file 1040ez online When Kathleen finished filling out her 2013 tax return, she saw that she had overpaid her taxes by $750. Can you file 1040ez online Kathleen knew she would owe additional tax in 2014. Can you file 1040ez online She credited $600 of the overpayment to her 2014 estimated tax and had the remaining $150 refunded to her. Can you file 1040ez online In September, she amended her 2013 return by filing Form 1040X, Amended U. Can you file 1040ez online S. Can you file 1040ez online Individual Income Tax Return. Can you file 1040ez online It turned out that she owed $250 more in tax than she had thought. Can you file 1040ez online This reduced her 2013 overpayment from $750 to $500. Can you file 1040ez online Because the $750 had already been applied to her 2014 estimated tax or refunded to her, the IRS billed her for the additional $250 she owed, plus penalties and interest. Can you file 1040ez online Kathleen could not use any of the $600 she had credited to her 2014 estimated tax to pay this bill. Can you file 1040ez online Pay Online Paying online is convenient and secure and helps make sure we get your payments on time. Can you file 1040ez online You can make your estimated tax payments online when you e-file or at any time during the year. Can you file 1040ez online You can pay using either of the following electronic payment methods. Can you file 1040ez online Direct transfer from your bank account. Can you file 1040ez online Credit or debit card. Can you file 1040ez online To pay your taxes online or for more information, go to www. Can you file 1040ez online irs. Can you file 1040ez online gov/e-pay. Can you file 1040ez online Pay by Phone Paying by phone is another safe and secure method of paying electronically. Can you file 1040ez online Use one of the following methods. Can you file 1040ez online Direct transfer from your bank account. Can you file 1040ez online Credit or debit card. Can you file 1040ez online To pay by direct transfer from your bank account, call EFTPS Customer Service at 1-800-555-4477 (English), 1-800-244-4829 (Espanol), or TTY/TDD 1-800-733-4829. Can you file 1040ez online To pay using a credit or debit card, you can call one of the following service providers. Can you file 1040ez online There is a convenience fee charged by these providers that varies by provider, card type, and payment amount. Can you file 1040ez online WorldPay 1-888-9-PAY-TAXTM (1-888-972-9829) www. Can you file 1040ez online payUSAtax. Can you file 1040ez online com Official Payments Corporation 1-888-UPAY-TAXTM (1-888-872-9829) www. Can you file 1040ez online officialpayments. Can you file 1040ez online com Link2GOV Corporation 1-888-PAY-1040TM (1-888-729-1040) www. Can you file 1040ez online PAY1040. Can you file 1040ez online com For the latest details on how to pay by phone, go to www. Can you file 1040ez online irs. Can you file 1040ez online gov/e-pay. Can you file 1040ez online Pay by Check or Money Order Using the Estimated Tax Payment Voucher Each payment of estimated tax by check or money order must be accompanied by a payment voucher from Form 1040-ES. Can you file 1040ez online If you use your own envelopes (and not the window envelope that comes with the 1040-ES package), make sure you mail your payment vouchers to the address shown in the Form 1040-ES instructions for the place where you live. Can you file 1040ez online Do not use the address shown in the Form 1040 or Form 1040A instructions. Can you file 1040ez online If you did not pay estimated tax last year, get a copy of Form 1040-ES from the IRS (see chapter 5). Can you file 1040ez online Follow the instructions to make sure you use the vouchers correctly. Can you file 1040ez online Joint estimated tax payments. Can you file 1040ez online    If you file a joint return and are making joint estimated tax payments, enter the names and social security numbers on the payment voucher in the same order as they will appear on the joint return. Can you file 1040ez online Change of address. Can you file 1040ez online    You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Can you file 1040ez online Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form. Can you file 1040ez online Worksheets for Chapter 2 Use the following worksheets and tables to figure your correct estimated tax. Can you file 1040ez online IF you need. Can you file 1040ez online . Can you file 1040ez online . Can you file 1040ez online THEN use. Can you file 1040ez online . Can you file 1040ez online . Can you file 1040ez online 2014 Tax Rate Schedules   the 2014 Estimated Tax Worksheet Worksheet 2-1 to estimate your taxable social security and railroad retirement benefits—line 1 of ES Worksheet (or Annualized ES Worksheet (Worksheet 2-9)) Worksheet 2-2 to estimate your self-employment (SE) tax and your deduction for SE tax—lines 1 and 11 of ES Worksheet (lines 1 and 17 of Annualized ES Worksheet (Worksheet 2-9)) Worksheet 2-3 to estimate your standard deduction—line 2 of ES Worksheet (line 7 of Annualized ES Worksheet (Worksheet 2-9)) Worksheet 2-4 to reduce your itemized deductions because your estimated AGI is more than $152,525—line 2 of ES Worksheet Worksheet 2-5 to reduce your exemption amount because your estimated AGI is more than $152,525—line 4 of ES Worksheet Worksheet 2-6 to estimate your income tax if line 1 of your ES Worksheet includes a net capital gain or qualified dividends—line 6 of ES Worksheet Worksheet 2-7 to estimate your income tax if you expect to claim a foreign earned income exclusion or foreign housing exclusion or deduction on Form 2555 or Form 2555-EZ—line 6 of ES Worksheet Worksheet 2-8 the 2014 Annualized Estimated Tax Worksheet (Annualized ES Worksheet) Worksheet 2-9 to reduce your itemized deductions because your estimated annualized AGI is more than $152,525—line 6 of Annualized ES Worksheet Worksheet 2-10 to reduce your exemption amount because your estimated annualized AGI is more than $152,525—line 10 of Annualized ES Worksheet Worksheet 2-11 to estimate your income tax if line 1 of your Annualized ES Worksheet includes a net capital gain or qualified dividends—line 12 of Annualized ES Worksheet Worksheet 2-12 to estimate your income tax if you expect to claim a foreign earned income exclusion or foreign housing exclusion or deduction on Form 2555 or Form 2555-EZ—line 12 of Annualized ES Worksheet Worksheet 2-13 to refigure (amend) your estimated tax during the year Worksheet 2-14 2014 Tax Rate Schedules Do not use these Tax Rate Schedules to figure your 2013 taxes. Can you file 1040ez online Use them only to figure your 2014 estimated taxes. Can you file 1040ez online Schedule X—Use if your 2014 filing status is  Single Schedule Z—Use if your 2014 filing status is Head of household If line 5 is: The tax is:     If line 5 is: The tax is:     Over— But not  over—         of the  amount  over— Over— But not  over—         of the  amount  over— $0 $9,075     10. Can you file 1040ez online 0%   $0 $0 $12,950     10. Can you file 1040ez online 0%   $0 9,075 36,900 $907. Can you file 1040ez online 50 + 15. Can you file 1040ez online 0%   9,075 12,950 49,400 $1,295. Can you file 1040ez online 00 + 15. Can you file 1040ez online 0%   12,950 36,900 89,350 5,081. Can you file 1040ez online 25 + 25. Can you file 1040ez online 0%   36,900 49,400 127,550 6,762. Can you file 1040ez online 50 + 25. Can you file 1040ez online 0%   49,400 89,350 186,350 18,193. Can you file 1040ez online 75 + 28. Can you file 1040ez online 0%   89,350 127,550 206,600 26,300. Can you file 1040ez online 00 + 28. Can you file 1040ez online 0%   127,550 186,350 405,100 45,353. Can you file 1040ez online 75 + 33. Can you file 1040ez online 0%   186,350 206,600 405,100 48,434. Can you file 1040ez online 00 + 33. Can you file 1040ez online 0%   206,600 405,100 406,750 117,541. Can you file 1040ez online 25 + 35. Can you file 1040ez online 0%   405,100 405,100 432,200 113,939. Can you file 1040ez online 00 + 35. Can you file 1040ez online 0%   405,100 406,750 - - - - - - 118,118. Can you file 1040ez online 75 + 39. Can you file 1040ez online 6%   406,750 432,200 - - - - - - 123,424. Can you file 1040ez online 00 + 39. Can you file 1040ez online 6%   432,200 Schedule Y-1—Use if your 2014 filing status is Married filing jointly or Qualifying widow(er) Schedule Y-2—Use if your 2014 filing status is  Married filing separately If line 5 is: The tax is:     If line 5 is: The tax is:     Over— But not  over—         of the  amount  over— Over— But not  over—         of the  amount  over— $0 $18,150     10. Can you file 1040ez online 0%   $0 $0 $9,075     10. Can you file 1040ez online 0%   $0 18,150 73,800 $1,815. Can you file 1040ez online 00 + 15. Can you file 1040ez online 0%   18,150 9,075 36,900 $907. Can you file 1040ez online 50 + 15. Can you file 1040ez online 0%   9,075 73,800 148,850 10,162. Can you file 1040ez online 50 + 25. Can you file 1040ez online 0%   73,800 36,900 74,425 5,081. Can you file 1040ez online 25 + 25. Can you file 1040ez online 0%   36,900 148,850 226,850 28,925. Can you file 1040ez online 00 + 28. Can you file 1040ez online 0%   148,850 74,425 113,425 14,462. Can you file 1040ez online 50 + 28. Can you file 1040ez online 0%   74,425 226,850 405,100 50,765. Can you file 1040ez online 00 + 33. Can you file 1040ez online 0%   226,850 113,425 202,550 25,382. Can you file 1040ez online 50 + 33. Can you file 1040ez online 0%   113,425 405,100 457,600 109,587. Can you file 1040ez online 50 + 35. Can you file 1040ez online 0%   405,100 202,550 228,800 54,793. Can you file 1040ez online 75 + 35. Can you file 1040ez online 0%   202,550 457,600 - - - - - - 127,962. Can you file 1040ez online 50 + 39. Can you file 1040ez online 6%   457,600 228,800 - - - - - - 63,981. Can you file 1040ez online 25 + 39. Can you file 1040ez online 6%   228,800                             Worksheet 2-1. Can you file 1040ez online 2014 Estimated Tax Worksheet When this worksheet refers you to instructions, you can find those instructions in the Instructions for 2014 Form 1040-ES. Can you file 1040ez online 1 Adjusted gross income you expect in 2014 (see instructions) 1     2 If you plan to itemize deductions, enter the estimated total of your itemized deductions. Can you file 1040ez online  Caution: If line 1 is over $152,525, your deduction may be reduced. Can you file 1040ez online See Worksheet 2-5. Can you file 1040ez online If you do not plan to itemize deductions, enter your standard deduction. Can you file 1040ez online 2     3 Subtract line 2 from line 1 3     4 Exemptions. Can you file 1040ez online Multiply $3,950 by the number of personal exemptions. Can you file 1040ez online  Caution: If line 1 is over $152,525, the amount of your personal exemptions may be limited. Can you file 1040ez online See Worksheet 2-6. Can you file 1040ez online 4     5 Subtract line 4 from line 3 5     6 Tax. Can you file 1040ez online Figure your tax on the amount on line 5 by using the 2014 Tax Rate Schedules Caution: If you will have qualified dividends or a net capital gain, or expect to exclude or deduct foreign earned income or housing, see Worksheets 2-7 and 2-8 to figure the tax 6     7 Alternative minimum tax from Form 6251 or included on Form 1040A, line 28 7     8 Add lines 6 and 7. Can you file 1040ez online Add to this amount any other taxes you expect to include in the total on Form 1040, line 44 8     9 Credits (see instructions). Can you file 1040ez online Do not include any income tax withholding on this line 9     10 Subtract line 9 from line 8. Can you file 1040ez online If zero or less, enter -0- 10     11 Self-employment tax (see instructions) 11     12 Other taxes including, if applicable, Additional Medicare Tax and/or NIIT (see instructions) 12     13a Add lines 10 through 12 13a     b Earned income credit, additional child tax credit, fuel tax credit, and refundable American opportunity credit 13b     c Total 2014 estimated tax. Can you file 1040ez online Subtract line 13b from line 13a. Can you file 1040ez online If zero or less, enter -0- ▶ 13c     14a Multiply line 13c by 90% (662/3% for farmers and fishermen) 14a           b Required annual payment based on prior year's tax (see instructions) 14b           c Required annual payment to avoid a penalty. Can you file 1040ez online Enter the smaller of line 14a or 14b ▶ 14c        Caution: Generally, if you do not prepay (through income tax withholding and estimated tax payments) at least the amount on line 14c, you may owe a penalty for not paying enough estimated tax. Can you file 1040ez online To avoid a penalty, make sure your estimate on line 13c is as accurate as possible. Can you file 1040ez online Even if you pay the required annual payment, you may still owe tax when you file your return. Can you file 1040ez online If you prefer, you can pay the amount shown on line 13c. Can you file 1040ez online                         15 Income tax withheld and estimated to be withheld during 2014 (including income tax withholding on pensions, annuities, certain deferred income, etc. Can you file 1040ez online ) 15     16a Subtract line 15 from line 14c 16a             Is the result zero or less? □ Yes. Can you file 1040ez online Stop here. Can you file 1040ez online You are not required to make estimated tax payments. Can you file 1040ez online  □ No. Can you file 1040ez online Go to line 16b. Can you file 1040ez online             b Subtract line 15 from line 13c 16b             Is the result less than $1,000? □ Yes. Can you file 1040ez online Stop here. Can you file 1040ez online You are not required to make estimated tax payments. Can you file 1040ez online  □ No. Can you file 1040ez online Go to line 17 to figure your required payment. Can you file 1040ez online                         17 If the first payment you are required to make is due April 15, 2014, enter ¼ of line 16a (minus any 2013 overpayment that you are applying to this installment) here, and on your estimated tax payment voucher(s) if you are paying by check or money order 17     Worksheet 2-2. Can you file 1040ez online 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Note. Can you file 1040ez online If you are using this worksheet to estimate your taxable social security or railroad retirement benefits for Worksheet 2-9, 2014 Annualized Estimated Tax Worksheet, multiply the expected amount of benefits for each period by the annualization amount shown on Worksheet 2-9, line 2, for the same period before entering it on line 1 below. Can you file 1040ez online     1. Can you file 1040ez online Enter your expected social security and railroad retirement benefits 1. Can you file 1040ez online   2. Can you file 1040ez online Enter one-half of line 1 2. Can you file 1040ez online   3. Can you file 1040ez online Enter your expected total income. Can you file 1040ez online Do not include any social security and railroad retirement benefits, nontaxable interest income, nontaxable IRA distributions, or nontaxable pension distributions 3. Can you file 1040ez online   4. Can you file 1040ez online Enter your expected nontaxable interest income 4. Can you file 1040ez online   5. Can you file 1040ez online Enter (as a positive amount) the total of any expected exclusions or deductions for: U. Can you file 1040ez online S. Can you file 1040ez online savings bond interest used for higher education expenses (Form 8815) Employer-provided adoption benefits (Form 8839) Foreign earned income or housing (Form 2555 or 2555-EZ) Income by bona fide residents of American Samoa (Form 4563) or Puerto Rico 5. Can you file 1040ez online   6. Can you file 1040ez online Add lines 2, 3, 4, and 5 6. Can you file 1040ez online   7. Can you file 1040ez online Enter your expected adjustments to income. Can you file 1040ez online Do not include any student loan interest deduction 7. Can you file 1040ez online   8. Can you file 1040ez online Subtract line 7 from line 6. Can you file 1040ez online If zero or less, stop here. Can you file 1040ez online  Note. Can you file 1040ez online Do not include any social security or railroad retirement benefits in the amount on line 1 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) (or Annualized Estimated Tax Worksheet (Worksheet 2-9)) 8. Can you file 1040ez online   9. Can you file 1040ez online Enter $25,000 ($32,000 if you expect to file married filing jointly; $0 if you expect to file married filing separately and expect to live with your spouse at any time during the year) 9. Can you file 1040ez online   10. Can you file 1040ez online Subtract line 9 from line 8. Can you file 1040ez online If zero or less, stop here. Can you file 1040ez online  Note. Can you file 1040ez online Do not include any social security or railroad retirement benefits in the amount on line 1 of your Worksheet 2-1 (or Annualized Estimated Tax Worksheet (Worksheet 2-9)) 10. Can you file 1040ez online   11. Can you file 1040ez online Enter $9,000 ($12,000 if you expect to file married filing jointly; $0 if you expect to file married filing separately and expect to live with your spouse at any time during the year) 11. Can you file 1040ez online   12. Can you file 1040ez online Subtract line 11 from line 10. Can you file 1040ez online If zero or less, enter -0- 12. Can you file 1040ez online   13. Can you file 1040ez online Enter the smaller of line 10 or line 11 13. Can you file 1040ez online   14. Can you file 1040ez online Enter one-half of line 13 14. Can you file 1040ez online   15