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Irs Free File 1040ez

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Irs Free File 1040ez

Irs free file 1040ez 2. Irs free file 1040ez   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. Irs free file 1040ez This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez For information on when the penalty applies, see chapter 4. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez Worksheets. Irs free file 1040ez   You may need to use several of the blank worksheets included in this chapter. Irs free file 1040ez See Worksheets for Chapter 2, later, to locate what you need. Irs free file 1040ez 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. Irs free file 1040ez To do this, file a new Form W-4 with your employer. Irs free file 1040ez See chapter 1. Irs free file 1040ez Estimated tax not required. Irs free file 1040ez   You do not have to pay estimated tax for 2014 if you meet all three of the following conditions. Irs free file 1040ez You had no tax liability for 2013. Irs free file 1040ez You were a U. Irs free file 1040ez S. Irs free file 1040ez citizen or resident alien for the whole year. Irs free file 1040ez Your 2013 tax year covered a 12-month period. Irs free file 1040ez   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. Irs free file 1040ez Please click here for the text description of the image. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez General Rule In most cases, you must pay estimated tax for 2014 if both of the following apply. Irs free file 1040ez You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. Irs free file 1040ez 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. Irs free file 1040ez Your 2013 tax return must cover all 12 months. Irs free file 1040ez Note. Irs free file 1040ez The percentages in (2a) or (2b) above may be different if you are a farmer, fisherman, or higher income taxpayer. Irs free file 1040ez See Special Rules , later. Irs free file 1040ez 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. Irs free file 1040ez Figure 2-A takes you through the general rule. Irs free file 1040ez You may find this helpful in determining if you must pay estimated tax. Irs free file 1040ez If all your income will be subject to income tax withholding, you probably do not need to pay estimated tax. Irs free file 1040ez Example 1. Irs free file 1040ez Jane Smart uses Figure 2-A and the following information to figure whether she should pay estimated tax for 2014. Irs free file 1040ez She files as head of household claiming her dependent son, takes the standard deduction, and expects no refundable credits for 2014. Irs free file 1040ez 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). Irs free file 1040ez 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. Irs free file 1040ez 50). Irs free file 1040ez Jane does not need to pay estimated tax. Irs free file 1040ez Example 2. Irs free file 1040ez The facts are the same as in Example 1, except that Jane expects only $8,700 tax to be withheld in 2014. Irs free file 1040ez Because that is less than $9,913. Irs free file 1040ez 50, her answer to box 2a is NO. Irs free file 1040ez 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). Irs free file 1040ez Jane must increase her withholding or pay estimated tax for 2014. Irs free file 1040ez Example 3. Irs free file 1040ez The facts are the same as in Example 2, except that the total tax shown on Jane's 2013 return was $8,600. Irs free file 1040ez Because she expects to have more than $8,600 withheld in 2014 ($8,700), her answer to box 2b is YES. Irs free file 1040ez Jane does not need to pay estimated tax for 2014. Irs free file 1040ez Married Taxpayers If you qualify to make joint estimated tax payments, apply the rules discussed here to your joint estimated income. Irs free file 1040ez You and your spouse can make joint estimated tax payments even if you are not living together. Irs free file 1040ez 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). Irs free file 1040ez 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. Irs free file 1040ez These individuals can take credit only for the estimated tax payments that he or she made. Irs free file 1040ez If you and your spouse cannot make joint estimated tax payments, apply these rules to your separate estimated income. Irs free file 1040ez Making joint or separate estimated tax payments will not affect your choice of filing a joint tax return or separate returns for 2014. Irs free file 1040ez 2013 separate returns and 2014 joint return. Irs free file 1040ez   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. Irs free file 1040ez You filed a separate return if you filed as single, head of household, or married filing separately. Irs free file 1040ez 2013 joint return and 2014 separate returns. Irs free file 1040ez   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. Irs free file 1040ez You file a separate return if you file as single, head of household, or married filing separately. Irs free file 1040ez   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. Irs free file 1040ez Then multiply the tax on the joint return by the following fraction. Irs free file 1040ez      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. Irs free file 1040ez Joe and Heather filed a joint return for 2013 showing taxable income of $48,500 and a tax of $6,386. Irs free file 1040ez Of the $48,500 taxable income, $40,100 was Joe's and the rest was Heather's. Irs free file 1040ez For 2014, they plan to file married filing separately. Irs free file 1040ez 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. Irs free file 1040ez 6% Joe's share of tax on joint return  ($6,386 × 87. Irs free file 1040ez 6%) $5,594 Special Rules There are special rules for farmers, fishermen, and certain higher income taxpayers. Irs free file 1040ez 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. Irs free file 1040ez Gross income. Irs free file 1040ez   Your gross income is all income you receive in the form of money, goods, property, and services that is not exempt from tax. Irs free file 1040ez 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. Irs free file 1040ez Joint returns. Irs free file 1040ez   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. Irs free file 1040ez Gross income from farming. Irs free file 1040ez   This is income from cultivating the soil or raising agricultural commodities. Irs free file 1040ez It includes the following amounts. Irs free file 1040ez Income from operating a stock, dairy, poultry, bee, fruit, or truck farm. Irs free file 1040ez Income from a plantation, ranch, nursery, range, orchard, or oyster bed. Irs free file 1040ez Crop shares for the use of your land. Irs free file 1040ez Gains from sales of draft, breeding, dairy, or sporting livestock. Irs free file 1040ez   For 2013, gross income from farming is the total of the following amounts. Irs free file 1040ez Schedule F (Form 1040), Profit or Loss From Farming, line 9. Irs free file 1040ez Form 4835, Farm Rental Income and Expenses, line 7. Irs free file 1040ez 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). Irs free file 1040ez Your gains from sales of draft, breeding, dairy, or sporting livestock shown on Form 4797, Sales of Business Property. Irs free file 1040ez   Wages you receive as a farm employee and wages you receive from a farm corporation are not gross income from farming. Irs free file 1040ez Gross income from fishing. Irs free file 1040ez   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. Irs free file 1040ez   Gross income from fishing includes the following amounts. Irs free file 1040ez Schedule C (Form 1040), Profit or Loss From Business. Irs free file 1040ez Income for services as an officer or crew member of a vessel while the vessel is engaged in fishing. Irs free file 1040ez 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). Irs free file 1040ez Certain taxable interest and punitive damage awards received in connection with the Exxon Valdez litigation. Irs free file 1040ez Income for services normally performed in connection with fishing. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez For 2013, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Irs free file 1040ez Note. Irs free file 1040ez This rule does not apply to farmers and fishermen. Irs free file 1040ez Aliens Resident and nonresident aliens also may have to pay estimated tax. Irs free file 1040ez Resident aliens should follow the rules in this publication, unless noted otherwise. Irs free file 1040ez Nonresident aliens should get Form 1040-ES (NR), U. Irs free file 1040ez S. Irs free file 1040ez Estimated Tax for Nonresident Alien Individuals. Irs free file 1040ez You are an alien if you are not a citizen or national of the United States. Irs free file 1040ez You are a resident alien if you either have a green card or meet the substantial presence test. Irs free file 1040ez For more information about withholding, the substantial presence test, and Form 1040-ES (NR), see Publication 519. Irs free file 1040ez Estates and Trusts Estates and trusts also must pay estimated tax. Irs free file 1040ez 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. Irs free file 1040ez Estates and trusts must use Form 1041-ES, Estimated Income Tax for Estates and Trusts, to figure and pay estimated tax. Irs free file 1040ez 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. Irs free file 1040ez When figuring your 2014 estimated tax, it may be helpful to use your income, deductions, and credits for 2013 as a starting point. Irs free file 1040ez Use your 2013 federal tax return as a guide. Irs free file 1040ez You can use Form 1040-ES to figure your estimated tax. Irs free file 1040ez Nonresident aliens use Form 1040-ES (NR) to figure estimated tax. Irs free file 1040ez You must make adjustments both for changes in your own situation and for recent changes in the tax law. Irs free file 1040ez Some of these changes are discussed under What's New for 2014 , earlier. Irs free file 1040ez For information about these and other changes in the law, visit the IRS website at IRS. Irs free file 1040ez gov. Irs free file 1040ez The instructions for Form 1040-ES include a worksheet to help you figure your estimated tax. Irs free file 1040ez Keep the worksheet for your records. Irs free file 1040ez 2014 Estimated Tax Worksheet Use Worksheet 2-1 to help guide you through the information about completing the 2014 Estimated Tax Worksheet. Irs free file 1040ez You can also find a copy of the worksheet in the Instructions for Form 1040-ES. Irs free file 1040ez Expected AGI—Line 1 Your expected AGI for 2014 (line 1) is your expected total income minus your expected adjustments to income. Irs free file 1040ez Total income. Irs free file 1040ez   Include in your total income all the income you expect to receive during the year, even income that is subject to withholding. Irs free file 1040ez However, do not include income that is tax exempt. Irs free file 1040ez   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. Irs free file 1040ez Social security and railroad retirement benefits. Irs free file 1040ez 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. Irs free file 1040ez Adjustments to income. Irs free file 1040ez   Be sure to subtract from your expected total income all of the adjustments you expect to take on your 2014 tax return. Irs free file 1040ez Self-employed. Irs free file 1040ez 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. Irs free file 1040ez Include the amount from Worksheet 2-3 in your expected adjustments to income. Irs free file 1040ez 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. Irs free file 1040ez 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). Irs free file 1040ez Itemized deductions—line 2. Irs free file 1040ez   If you expect to claim itemized deductions on your 2014 tax return, enter the estimated amount on line 2. Irs free file 1040ez   Itemized deductions are the deductions that can be claimed on Schedule A (Form 1040). Irs free file 1040ez    For 2014, your total itemized deductions may be reduced if your AGI is more than the amount shown next for your filing status. Irs free file 1040ez 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. Irs free file 1040ez Standard deduction—line 2. Irs free file 1040ez   If you expect to claim the standard deduction on your 2014 tax return, enter the amount on line 2. Irs free file 1040ez Use Worksheet 2-4 to figure your standard deduction. Irs free file 1040ez No standard deduction. Irs free file 1040ez   The standard deduction for some individuals is zero. Irs free file 1040ez 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. Irs free file 1040ez Exemptions—line 4. Irs free file 1040ez   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. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez    For 2014, your deduction for personal exemption is reduced if your AGI is more than the amount shown next for your filing status. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez Most people will have entries for only a few of these steps. Irs free file 1040ez However, you should check every step to be sure you do not overlook anything. Irs free file 1040ez Step 1. Irs free file 1040ez   Figure your expected income tax (line 6). Irs free file 1040ez Generally, you will use the 2014 Tax Rate Schedules, later, to figure your expected income tax. Irs free file 1040ez   However, see below for situations where you must use a different method to compute your estimated tax. Irs free file 1040ez Tax on child's investment income. Irs free file 1040ez   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. Irs free file 1040ez Children under age 18 at the end of 2014. Irs free file 1040ez The following children if their earned income is not more than half their support. Irs free file 1040ez Children age 18 at the end of 2014. Irs free file 1040ez Children who are full-time students over age 18 and under age 24 at the end of 2014. Irs free file 1040ez See Publication 929, Tax Rules for Children and Dependents. Irs free file 1040ez 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. Irs free file 1040ez Tax on net capital gain. Irs free file 1040ez   The regular income tax rates for individuals do not apply to a net capital gain. Irs free file 1040ez Instead, your net capital gain is taxed at a lower maximum rate. Irs free file 1040ez   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. Irs free file 1040ez Tax on capital gain and qualified dividends. Irs free file 1040ez If the amount on line 1 includes a net capital gain or qualified dividends, use Worksheet 2-7 to figure your tax. Irs free file 1040ez Note. Irs free file 1040ez For 2014, your capital gains and dividends rate will depend on your income. Irs free file 1040ez Tax if excluding foreign earned income or excluding or deducting foreign housing. Irs free file 1040ez 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. Irs free file 1040ez Step 2. Irs free file 1040ez   Total your expected taxes (line 8). Irs free file 1040ez Include on line 8 the sum of the following. Irs free file 1040ez Your tax on line 6. Irs free file 1040ez Your expected alternative minimum tax (AMT) from Form 6251, or included on Form 1040A. Irs free file 1040ez Your expected additional taxes from Form 8814, Parents' Election To Report Child's Interest and Dividends, and Form 4972, Tax on Lump-Sum Distributions. Irs free file 1040ez Any recapture of education credits. Irs free file 1040ez Step 3. Irs free file 1040ez   Subtract your expected credits (line 9). Irs free file 1040ez If you are using your 2013 return as a guide and filed Form 1040, your total credits for 2013 were shown on line 54. Irs free file 1040ez If you filed Form 1040A, your total credits for 2013 were on line 34. Irs free file 1040ez   If your credits on line 9 are more than your taxes on line 8, enter “-0-” on line 10 and go to Step 4. Irs free file 1040ez Step 4. Irs free file 1040ez   Add your expected self-employment tax (line 11). Irs free file 1040ez You already should have figured your self-employment tax (see Self-employed under Expected AGI—Line 1, earlier). Irs free file 1040ez Step 5. Irs free file 1040ez   Add your expected other taxes (line 12). Irs free file 1040ez   Other taxes include the following. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez Amounts written on Form 1040 on the line for “other taxes” (line 60 on the 2013 Form 1040). Irs free file 1040ez 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. Irs free file 1040ez Repayment of the first-time homebuyer credit. Irs free file 1040ez See Form 5405. Irs free file 1040ez Additional Medicare Tax. Irs free file 1040ez A 0. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez A self-employment loss should not be considered for purposes of this tax. Irs free file 1040ez RRTA compensation should be separately compared to the threshold. Irs free file 1040ez Your employer is responsible for withholding the 0. Irs free file 1040ez 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000 in 2014. Irs free file 1040ez You should consider this withholding, if applicable, in determining whether you need to make an estimated payment. Irs free file 1040ez For more information on Additional Medicare Tax, go to IRS. Irs free file 1040ez gov and enter “Additional Medicare Tax” in the search box. Irs free file 1040ez Net Investment Income Tax (NIIT). Irs free file 1040ez The NIIT is 3. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez gov and enter “Net Investment Income Tax” in the search box. Irs free file 1040ez Step 6. Irs free file 1040ez   Subtract your refundable credit (line 13b). Irs free file 1040ez   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. Irs free file 1040ez   The result of steps 1 through 6 is your total estimated tax for 2014 (line 13c). Irs free file 1040ez 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. Irs free file 1040ez General rule. Irs free file 1040ez   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. Irs free file 1040ez Your 2013 tax return must cover all 12 months. Irs free file 1040ez Special rules. Irs free file 1040ez   There are special rules for higher income taxpayers and for farmers and fishermen. Irs free file 1040ez Higher income taxpayers. Irs free file 1040ez   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. Irs free file 1040ez This rule does not apply to farmers and fishermen. Irs free file 1040ez For 2013, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Irs free file 1040ez Example. Irs free file 1040ez   Jeremy Martin's total tax on his 2013 return was $42,581, and his expected tax for 2014 is $71,253. Irs free file 1040ez His 2013 AGI was $180,000. Irs free file 1040ez Because Jeremy had more than $150,000 of AGI in 2013, he figures his required annual payment as follows. Irs free file 1040ez He determines that 90% of his expected tax for 2014 is $64,128 (. Irs free file 1040ez 90 × $71,253). Irs free file 1040ez Next, he determines that 110% of the tax shown on his 2013 return is $46,839 (1. Irs free file 1040ez 10 x $42,581). Irs free file 1040ez Finally, he determines that his required annual payment is $46,839, the smaller of the two. Irs free file 1040ez Farmers and fishermen. Irs free file 1040ez   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% (. Irs free file 1040ez 6667) of your total tax for 2014, or 100% of the total tax shown on your 2013 return. Irs free file 1040ez (Your 2013 tax return must cover all 12 months. Irs free file 1040ez )   For definitions of “gross income from farming” and “gross income from fishing,” see Farmers and Fishermen , under Special Rules discussed earlier. Irs free file 1040ez Total tax for 2013—line 14b. Irs free file 1040ez   Your 2013 total tax, if you filed Form 1040, is the amount on line 61 reduced by the following. Irs free file 1040ez Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Irs free file 1040ez The following amounts from Form 5329 included on line 58. Irs free file 1040ez Any tax on excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts. Irs free file 1040ez Any tax on excess accumulations in qualified retirement plans. Irs free file 1040ez The following write-ins on line 60. Irs free file 1040ez Excise tax on excess golden parachute payments (identified as “EPP”). Irs free file 1040ez Excise tax on insider stock compensation from an expatriated corporation (identified as “ISC”). Irs free file 1040ez Look-back interest due under section 167(g) (identified as “From Form 8866”). Irs free file 1040ez Look-back interest due under section 460(b) (identified as “From Form 8697”). Irs free file 1040ez Recapture of federal mortgage subsidy (identified as “FMSR”). Irs free file 1040ez Additional tax on advance payments of health coverage tax credit when not eligible (identified as “HCTC”). Irs free file 1040ez Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance (identified as “UT”). Irs free file 1040ez Any refundable credit amounts. Irs free file 1040ez   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits. Irs free file 1040ez   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. Irs free file 1040ez 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. Irs free file 1040ez Subtract your expected withholding from your required annual payment (line 14c). Irs free file 1040ez You usually must pay this difference in four equal installments. Irs free file 1040ez See When To Pay Estimated Tax and How To Figure Each Payment . Irs free file 1040ez 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. Irs free file 1040ez Withholding—line 15. Irs free file 1040ez   Your expected withholding for 2014 (line 15) includes the income tax you expect to be withheld from all sources (wages, pensions and annuities, etc. Irs free file 1040ez ). Irs free file 1040ez It includes excess social security, and tier 1 railroad retirement tax you expect to be withheld from your wages and compensation. Irs free file 1040ez 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. Irs free file 1040ez See Excess Social Security or Railroad Retirement Tax Withholding in chapter 3. Irs free file 1040ez   It also includes Additional Medicare Tax you expect to be withheld from your wages or compensation. Irs free file 1040ez Your employer is responsible for withholding the 0. Irs free file 1040ez 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000. Irs free file 1040ez When To Pay Estimated Tax For estimated tax purposes, the year is divided into four payment periods. Irs free file 1040ez Each period has a specific payment due date. Irs free file 1040ez 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. Irs free file 1040ez If a payment is mailed, the date of the U. Irs free file 1040ez S. Irs free file 1040ez postmark is considered the date of payment. Irs free file 1040ez The payment periods and due dates for estimated tax payments are shown next. Irs free file 1040ez For exceptions to the dates listed, see Saturday, Sunday, holiday rule below. Irs free file 1040ez For the period: Due date: Jan. Irs free file 1040ez 11 – March 31 April 15 April 1 – May 31 June 16 June 1 – August 31 September 15 Sept. Irs free file 1040ez 1 – Dec. Irs free file 1040ez 31 January 15  next year2 1If your tax year does not begin on January 1,  see Fiscal year taxpayers . Irs free file 1040ez 2See January payment . Irs free file 1040ez Saturday, Sunday, holiday rule. Irs free file 1040ez   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. Irs free file 1040ez January payment. Irs free file 1040ez   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. Irs free file 1040ez Example. Irs free file 1040ez Janet Adams does not pay any estimated tax for 2014. Irs free file 1040ez She files her 2014 income tax return and pays the balance due shown on her return on January 26, 2015. Irs free file 1040ez Janet's estimated tax for the fourth payment period is considered to have been paid on time. Irs free file 1040ez However, she may owe a penalty for not making the first three estimated tax payments, if required. Irs free file 1040ez Any penalty for not making those payments will be figured up to January 26, 2015. Irs free file 1040ez Fiscal year taxpayers. Irs free file 1040ez   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. Irs free file 1040ez   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. Irs free file 1040ez When To Start You do not have to make estimated tax payments until you have income on which you will owe income tax. Irs free file 1040ez 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. Irs free file 1040ez You have several options when paying estimated taxes. Irs free file 1040ez 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. Irs free file 1040ez If you choose to pay in installments, make your first payment by the due date for the first payment period. Irs free file 1040ez Make your remaining installment payments by the due dates for the later periods. Irs free file 1040ez To avoid any estimated tax penalties, all installments must be paid by their due date and for the required amount. Irs free file 1040ez No income subject to estimated tax during first period. Irs free file 1040ez   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. Irs free file 1040ez 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. Irs free file 1040ez Table 2-1 shows the dates for making installment payments. Irs free file 1040ez    Table 2-1. Irs free file 1040ez 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. Irs free file 1040ez 15     Jan. Irs free file 1040ez 15 next year April 1–May 31 June 16 Sept. Irs free file 1040ez 15     Jan. Irs free file 1040ez 15 next year June 1–Aug. Irs free file 1040ez 31 Sept. Irs free file 1040ez 15 Jan. Irs free file 1040ez 15 next year After Aug. Irs free file 1040ez 31 Jan. Irs free file 1040ez 15 next year (None) *See January payment and Saturday, Sunday, holiday rule . Irs free file 1040ez How much to pay to avoid penalty. Irs free file 1040ez   To determine how much you should pay by each payment due date, see How To Figure Each Payment , later. Irs free file 1040ez 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. Irs free file 1040ez The due dates for the first three payment periods, discussed under When To Pay Estimated Tax , earlier, do not apply to you. Irs free file 1040ez 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. Irs free file 1040ez Fiscal year farmers and fishermen. Irs free file 1040ez   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. Irs free file 1040ez 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. Irs free file 1040ez You should pay enough by each due date to avoid a penalty for that period. Irs free file 1040ez 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. Irs free file 1040ez The penalty is discussed in chapter 4. Irs free file 1040ez 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. Irs free file 1040ez Enter this amount on line 17. Irs free file 1040ez However, use this method only if your income is basically the same throughout the year. Irs free file 1040ez Change in estimated tax. Irs free file 1040ez   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. Irs free file 1040ez 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. Irs free file 1040ez If you do not receive your income evenly throughout the year, your required estimated tax payments may not be the same for each period. Irs free file 1040ez See Annualized Income Installment Method . Irs free file 1040ez Amended estimated tax. Irs free file 1040ez 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. Irs free file 1040ez Example. Irs free file 1040ez Early in 2014, Mira Roberts figures that her estimated tax due is $1,800. Irs free file 1040ez She makes estimated tax payments on April 15 and June 16 of $450 each ($1,800 ÷ 4). Irs free file 1040ez On July 10, she sells investment property at a gain. Irs free file 1040ez Her refigured estimated tax is $4,100. Irs free file 1040ez Her required estimated tax payment for the third payment period is $2,175, as shown in her filled-in Worksheet 2-14. Irs free file 1040ez If Mira's estimated tax does not change again, her required estimated tax payment for the fourth payment period will be $1,025. Irs free file 1040ez Worksheet 2-14. Irs free file 1040ez Amended Estimated Tax Worksheet—Illustrated               1. Irs free file 1040ez Amended total estimated tax due 1. Irs free file 1040ez $4,100 2. Irs free file 1040ez Multiply line 1 by:           50% (. Irs free file 1040ez 50) if next payment is due June 16, 2014           75% (. Irs free file 1040ez 75) if next payment is due September 15,  2014           100% (1. Irs free file 1040ez 00) if next payment is due January 15,  2015 2. Irs free file 1040ez 3,075     3. Irs free file 1040ez Estimated tax payments for all previous periods 3. Irs free file 1040ez 900     4. Irs free file 1040ez 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. Irs free file 1040ez $2,175       Note. Irs free file 1040ez If the payment on line 4 is due January 15, 2015, stop here. Irs free file 1040ez Otherwise, go to line 5. Irs free file 1040ez         5. Irs free file 1040ez Add lines 3 and 4 5. Irs free file 1040ez 3,075 6. Irs free file 1040ez Subtract line 5 from line 1 and enter the result (but not less than zero) 6. Irs free file 1040ez 1,025 7. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez $1,025 Worksheet 2-14. Irs free file 1040ez Amended Estimated Tax Worksheet—Blank               1. Irs free file 1040ez Amended total estimated tax due 1. Irs free file 1040ez   2. Irs free file 1040ez Multiply line 1 by:           50% (. Irs free file 1040ez 50) if next payment is due June 16, 2014           75% (. Irs free file 1040ez 75) if next payment is due September 15,  2014           100% (1. Irs free file 1040ez 00) if next payment is due January 15,  2015 2. Irs free file 1040ez       3. Irs free file 1040ez Estimated tax payments for all previous periods 3. Irs free file 1040ez       4. Irs free file 1040ez 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. Irs free file 1040ez         Note. Irs free file 1040ez If the payment on line 4 is due January 15, 2015, stop here. Irs free file 1040ez Otherwise, go to line 5. Irs free file 1040ez         5. Irs free file 1040ez Add lines 3 and 4 5. Irs free file 1040ez   6. Irs free file 1040ez Subtract line 5 from line 1 and enter the result (but not less than zero) 6. Irs free file 1040ez   7. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez   Underpayment penalty. Irs free file 1040ez   The penalty is figured separately for each payment period. Irs free file 1040ez 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. Irs free file 1040ez To see how you may be able to avoid or reduce this penalty, see Annualized Income Installment Method (Schedule AI) in chapter 4. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez To see whether you can pay less for any period, complete the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9). Irs free file 1040ez You first must complete the 2014 Estimated Tax Worksheet (Worksheet 2-1) through line 16b. Irs free file 1040ez Use the result you figure on line 32 of Worksheet 2-9 to make your estimated tax payments and complete your payment vouchers. Irs free file 1040ez Note. Irs free file 1040ez If you use the annualized income installment method to figure your estimated tax payments, you must file Form 2210 with your 2014 tax return. Irs free file 1040ez See Annualized Income Installment Method (Schedule AI) in chapter 4 for more information. Irs free file 1040ez Instructions for the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9) Use Worksheet 2-9 to help you follow these instructions. Irs free file 1040ez 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. Irs free file 1040ez The top of the worksheet shows the dates for each payment period. Irs free file 1040ez The periods build; that is, each period includes all previous periods. Irs free file 1040ez After the end of each payment period, complete the corresponding worksheet column to figure the payment due for that period. Irs free file 1040ez Line 1. Irs free file 1040ez   Enter your AGI for the period. Irs free file 1040ez 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. Irs free file 1040ez See Expected AGI—Line 1 , earlier. Irs free file 1040ez Self-employment income. Irs free file 1040ez   If you had self-employment income, first complete Section B of this worksheet. Irs free file 1040ez Use the amounts on line 43 when figuring your expected AGI to enter in each column of Section A, line 1. Irs free file 1040ez Line 4. Irs free file 1040ez   Be sure to consider all deduction limits figured on Schedule A (Form 1040), such as reducing your medical expenses by 10% (7. Irs free file 1040ez 5% if either you or your spouse was born before January 2, 1950) or reducing certain miscellaneous deductions by 2% of your AGI. Irs free file 1040ez Figure your deduction limits using your expected AGI in the corresponding column of line 1 (2014 Annualized Estimated Tax Worksheet (Worksheet 2-9)). Irs free file 1040ez Line 6. Irs free file 1040ez   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. Irs free file 1040ez In that case, use Worksheet 2-10 to figure the amount to enter on line 6. Irs free file 1040ez Complete Worksheet 2–10 for each period, as necessary. Irs free file 1040ez Line 7. Irs free file 1040ez   If you will not itemize your deductions, use Worksheet 2-4 to figure your standard deduction. Irs free file 1040ez Line 10. Irs free file 1040ez   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. Irs free file 1040ez   In that case, use Worksheet 2-11 to figure the amount to enter on line 10. Irs free file 1040ez Line 12. Irs free file 1040ez   Generally, you will use the Tax Rate Schedules to figure the tax on your annualized income. Irs free file 1040ez However, see below for situations where you must use a different method to compute your estimated tax. Irs free file 1040ez Tax on child's investment income. Irs free file 1040ez   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. Irs free file 1040ez Children under age 18 at the end of 2014. Irs free file 1040ez The following children if their earned income is not more than half their support. Irs free file 1040ez Children age 18 at the end of 2014. Irs free file 1040ez Children who are full-time students over age 18 and under age 24 at the end of 2014. Irs free file 1040ez See Publication 929. Irs free file 1040ez Tax on net capital gain. Irs free file 1040ez   The regular income tax rates for individuals do not apply to a net capital gain. Irs free file 1040ez Instead, your net capital gain is taxed at a lower maximum rate. Irs free file 1040ez   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. Irs free file 1040ez Tax on qualified dividends and capital gains. Irs free file 1040ez   For 2014, your capital gain and dividends rate will depend on your income. Irs free file 1040ez Tax on capital gain or qualified dividends. Irs free file 1040ez 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. Irs free file 1040ez Tax if excluding foreign earned income or excluding or deducting foreign housing. Irs free file 1040ez 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. Irs free file 1040ez Line 13. Irs free file 1040ez   If you file Form 1040, add the tax from Forms 8814, 4972, and 6251 for the period. Irs free file 1040ez If you file Form 1040A, add the amount from the Alternative Minimum Tax Worksheet found in the instructions. Irs free file 1040ez Also include any recapture of an education credit for each period. Irs free file 1040ez 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. Irs free file 1040ez   Use the 2013 forms or worksheets to see if you will owe any of the taxes discussed above. Irs free file 1040ez Figure the tax based on your income and deductions during the period shown in the column headings. Irs free file 1040ez Multiply this amount by the annualization amounts shown for each column on line 2 of the 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9). Irs free file 1040ez Enter the result on line 13 of this worksheet. Irs free file 1040ez Line 15. Irs free file 1040ez   Include all the nonrefundable credits you expect to claim because of events that will occur during the period. Irs free file 1040ez Note. Irs free file 1040ez When figuring your credits for each period, annualize any item of income or deduction to figure each credit. Irs free file 1040ez 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. Irs free file 1040ez Line 18. Irs free file 1040ez   Add your expected other taxes. Irs free file 1040ez   Other taxes include the following. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez Amounts on Form 1040 written on the line for “other taxes” (line 60 on the 2013 Form 1040). Irs free file 1040ez 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. Irs free file 1040ez Repayment of the first-time homebuyer credit if the home will cease to be your main home in 2014. Irs free file 1040ez See Form 5405 for exceptions. Irs free file 1040ez Additional Medicare Tax. Irs free file 1040ez A 0. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez A self-employment loss should not be considered for purposes of this tax. Irs free file 1040ez RRTA compensation should be separately compared to the threshold. Irs free file 1040ez Your employer is responsible for withholding the 0. Irs free file 1040ez 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays you in excess of $200,000 in 2014. Irs free file 1040ez You should consider this withholding, if applicable, in determining whether you need to make an estimated payment. Irs free file 1040ez For more information on Additional Medicare Tax, go to IRS. Irs free file 1040ez gov and enter “Additional Medicare Tax” in the search box. Irs free file 1040ez Net Investment Income Tax (NIIT). Irs free file 1040ez The NIIT is 3. Irs free file 1040ez 8% of the lesser of your net investment income or the excess of your modified adjusted gross income over a specified threshold amount. Irs free file 1040ez 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. Irs free file 1040ez gov and enter “Net Investment Income Tax” in the search box. Irs free file 1040ez Line 20. Irs free file 1040ez   Include all the refundable credits (other than withholding credits) you can claim because of events that occurred during the period. Irs free file 1040ez Note. Irs free file 1040ez When figuring your refundable credits for each period, annualize any item of income or deduction used to figure each credit. Irs free file 1040ez Line 29. Irs free file 1040ez   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. Irs free file 1040ez Line 31. Irs free file 1040ez   For each period, include estimated tax payments made and any excess social security and railroad retirement tax. Irs free file 1040ez   Also include estimated federal income tax withholding. Irs free file 1040ez One-fourth of your estimated withholding is considered withheld on the due date of each payment period. Irs free file 1040ez To figure the amount to include on line 31 for each period, multiply your total expected withholding for 2014 by: 25% (. Irs free file 1040ez 25) for the first period, 50% (. Irs free file 1040ez 50) for the second period, 75% (. Irs free file 1040ez 75) for the third period, and 100% (1. Irs free file 1040ez 00) for the fourth period. Irs free file 1040ez   However, you may choose to include your withholding according to the actual dates on which the amounts will be withheld. Irs free file 1040ez For each period, include withholding made from the beginning of the period up to and including the payment due date. Irs free file 1040ez You can make this choice separately for the taxes withheld from your wages and all other withholding. Irs free file 1040ez For an explanation of what to include in withholding, see Total Estimated Tax Payments Needed—Line 16a , earlier. Irs free file 1040ez Nonresident aliens. Irs free file 1040ez   If you will file Form 1040NR and you do not receive wages as an employee subject to U. Irs free file 1040ez S. Irs free file 1040ez income tax withholding, the instructions for the worksheet are modified as follows. Irs free file 1040ez Skip column (a). Irs free file 1040ez On line 1, enter your income for the period that is effectively connected with a U. Irs free file 1040ez S. Irs free file 1040ez trade or business. Irs free file 1040ez 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. Irs free file 1040ez S. Irs free file 1040ez trade or business by the following. Irs free file 1040ez 72% for column (b). Irs free file 1040ez 45% for column (c). Irs free file 1040ez 30% for column (d). Irs free file 1040ez However, if you can use a treaty rate lower than 30%, use the percentages determined by multiplying your treaty rate by 2. Irs free file 1040ez 4, 1. Irs free file 1040ez 5, and 1, respectively. Irs free file 1040ez 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. Irs free file 1040ez On lines 24 and 27, skip column (b). Irs free file 1040ez 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). Irs free file 1040ez See Publication 519 for more information. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez How To Pay Estimated Tax There are several ways to pay estimated tax. Irs free file 1040ez Credit an overpayment on your 2013 return to your 2014 estimated tax. Irs free file 1040ez Pay by direct transfer from your bank account, or pay by credit or debit card using a pay-by-phone system or the Internet. Irs free file 1040ez Send in your payment (check or money order) with a payment voucher from Form 1040-ES. Irs free file 1040ez 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. Irs free file 1040ez On Form 1040, or Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Irs free file 1040ez Take the amount you have credited into account when figuring your estimated tax payments. Irs free file 1040ez If you timely file your 2013 return, treat the credit as a payment made on April 15, 2014. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez You also cannot use that overpayment in any other way. Irs free file 1040ez Example. Irs free file 1040ez When Kathleen finished filling out her 2013 tax return, she saw that she had overpaid her taxes by $750. Irs free file 1040ez Kathleen knew she would owe additional tax in 2014. Irs free file 1040ez She credited $600 of the overpayment to her 2014 estimated tax and had the remaining $150 refunded to her. Irs free file 1040ez In September, she amended her 2013 return by filing Form 1040X, Amended U. Irs free file 1040ez S. Irs free file 1040ez Individual Income Tax Return. Irs free file 1040ez It turned out that she owed $250 more in tax than she had thought. Irs free file 1040ez This reduced her 2013 overpayment from $750 to $500. Irs free file 1040ez 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. Irs free file 1040ez Kathleen could not use any of the $600 she had credited to her 2014 estimated tax to pay this bill. Irs free file 1040ez Pay Online Paying online is convenient and secure and helps make sure we get your payments on time. Irs free file 1040ez You can make your estimated tax payments online when you e-file or at any time during the year. Irs free file 1040ez You can pay using either of the following electronic payment methods. Irs free file 1040ez Direct transfer from your bank account. Irs free file 1040ez Credit or debit card. Irs free file 1040ez To pay your taxes online or for more information, go to www. Irs free file 1040ez irs. Irs free file 1040ez gov/e-pay. Irs free file 1040ez Pay by Phone Paying by phone is another safe and secure method of paying electronically. Irs free file 1040ez Use one of the following methods. Irs free file 1040ez Direct transfer from your bank account. Irs free file 1040ez Credit or debit card. Irs free file 1040ez 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. Irs free file 1040ez To pay using a credit or debit card, you can call one of the following service providers. Irs free file 1040ez There is a convenience fee charged by these providers that varies by provider, card type, and payment amount. Irs free file 1040ez WorldPay 1-888-9-PAY-TAXTM (1-888-972-9829) www. Irs free file 1040ez payUSAtax. Irs free file 1040ez com Official Payments Corporation 1-888-UPAY-TAXTM (1-888-872-9829) www. Irs free file 1040ez officialpayments. Irs free file 1040ez com Link2GOV Corporation 1-888-PAY-1040TM (1-888-729-1040) www. Irs free file 1040ez PAY1040. Irs free file 1040ez com For the latest details on how to pay by phone, go to www. Irs free file 1040ez irs. Irs free file 1040ez gov/e-pay. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez Do not use the address shown in the Form 1040 or Form 1040A instructions. Irs free file 1040ez If you did not pay estimated tax last year, get a copy of Form 1040-ES from the IRS (see chapter 5). Irs free file 1040ez Follow the instructions to make sure you use the vouchers correctly. Irs free file 1040ez Joint estimated tax payments. Irs free file 1040ez    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. Irs free file 1040ez Change of address. Irs free file 1040ez    You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Irs free file 1040ez Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form. Irs free file 1040ez Worksheets for Chapter 2 Use the following worksheets and tables to figure your correct estimated tax. Irs free file 1040ez IF you need. Irs free file 1040ez . Irs free file 1040ez . Irs free file 1040ez THEN use. Irs free file 1040ez . Irs free file 1040ez . Irs free file 1040ez 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. Irs free file 1040ez Use them only to figure your 2014 estimated taxes. Irs free file 1040ez 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. Irs free file 1040ez 0%   $0 $0 $12,950     10. Irs free file 1040ez 0%   $0 9,075 36,900 $907. Irs free file 1040ez 50 + 15. Irs free file 1040ez 0%   9,075 12,950 49,400 $1,295. Irs free file 1040ez 00 + 15. Irs free file 1040ez 0%   12,950 36,900 89,350 5,081. Irs free file 1040ez 25 + 25. Irs free file 1040ez 0%   36,900 49,400 127,550 6,762. Irs free file 1040ez 50 + 25. Irs free file 1040ez 0%   49,400 89,350 186,350 18,193. Irs free file 1040ez 75 + 28. Irs free file 1040ez 0%   89,350 127,550 206,600 26,300. Irs free file 1040ez 00 + 28. Irs free file 1040ez 0%   127,550 186,350 405,100 45,353. Irs free file 1040ez 75 + 33. Irs free file 1040ez 0%   186,350 206,600 405,100 48,434. Irs free file 1040ez 00 + 33. Irs free file 1040ez 0%   206,600 405,100 406,750 117,541. Irs free file 1040ez 25 + 35. Irs free file 1040ez 0%   405,100 405,100 432,200 113,939. Irs free file 1040ez 00 + 35. Irs free file 1040ez 0%   405,100 406,750 - - - - - - 118,118. Irs free file 1040ez 75 + 39. Irs free file 1040ez 6%   406,750 432,200 - - - - - - 123,424. Irs free file 1040ez 00 + 39. Irs free file 1040ez 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. Irs free file 1040ez 0%   $0 $0 $9,075     10. Irs free file 1040ez 0%   $0 18,150 73,800 $1,815. Irs free file 1040ez 00 + 15. Irs free file 1040ez 0%   18,150 9,075 36,900 $907. Irs free file 1040ez 50 + 15. Irs free file 1040ez 0%   9,075 73,800 148,850 10,162. Irs free file 1040ez 50 + 25. Irs free file 1040ez 0%   73,800 36,900 74,425 5,081. Irs free file 1040ez 25 + 25. Irs free file 1040ez 0%   36,900 148,850 226,850 28,925. Irs free file 1040ez 00 + 28. Irs free file 1040ez 0%   148,850 74,425 113,425 14,462. Irs free file 1040ez 50 + 28. Irs free file 1040ez 0%   74,425 226,850 405,100 50,765. Irs free file 1040ez 00 + 33. Irs free file 1040ez 0%   226,850 113,425 202,550 25,382. Irs free file 1040ez 50 + 33. Irs free file 1040ez 0%   113,425 405,100 457,600 109,587. Irs free file 1040ez 50 + 35. Irs free file 1040ez 0%   405,100 202,550 228,800 54,793. Irs free file 1040ez 75 + 35. Irs free file 1040ez 0%   202,550 457,600 - - - - - - 127,962. Irs free file 1040ez 50 + 39. Irs free file 1040ez 6%   457,600 228,800 - - - - - - 63,981. Irs free file 1040ez 25 + 39. Irs free file 1040ez 6%   228,800                             Worksheet 2-1. Irs free file 1040ez 2014 Estimated Tax Worksheet When this worksheet refers you to instructions, you can find those instructions in the Instructions for 2014 Form 1040-ES. Irs free file 1040ez 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. Irs free file 1040ez  Caution: If line 1 is over $152,525, your deduction may be reduced. Irs free file 1040ez See Worksheet 2-5. Irs free file 1040ez If you do not plan to itemize deductions, enter your standard deduction. Irs free file 1040ez 2     3 Subtract line 2 from line 1 3     4 Exemptions. Irs free file 1040ez Multiply $3,950 by the number of personal exemptions. Irs free file 1040ez  Caution: If line 1 is over $152,525, the amount of your personal exemptions may be limited. Irs free file 1040ez See Worksheet 2-6. Irs free file 1040ez 4     5 Subtract line 4 from line 3 5     6 Tax. Irs free file 1040ez 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. Irs free file 1040ez Add to this amount any other taxes you expect to include in the total on Form 1040, line 44 8     9 Credits (see instructions). Irs free file 1040ez Do not include any income tax withholding on this line 9     10 Subtract line 9 from line 8. Irs free file 1040ez 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. Irs free file 1040ez Subtract line 13b from line 13a. Irs free file 1040ez 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. Irs free file 1040ez 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. Irs free file 1040ez To avoid a penalty, make sure your estimate on line 13c is as accurate as possible. Irs free file 1040ez Even if you pay the required annual payment, you may still owe tax when you file your return. Irs free file 1040ez If you prefer, you can pay the amount shown on line 13c. Irs free file 1040ez                         15 Income tax withheld and estimated to be withheld during 2014 (including income tax withholding on pensions, annuities, certain deferred income, etc. Irs free file 1040ez ) 15     16a Subtract line 15 from line 14c 16a             Is the result zero or less? □ Yes. Irs free file 1040ez Stop here. Irs free file 1040ez You are not required to make estimated tax payments. Irs free file 1040ez  □ No. Irs free file 1040ez Go to line 16b. Irs free file 1040ez             b Subtract line 15 from line 13c 16b             Is the result less than $1,000? □ Yes. Irs free file 1040ez Stop here. Irs free file 1040ez You are not required to make estimated tax payments. Irs free file 1040ez  □ No. Irs free file 1040ez Go to line 17 to figure your required payment. Irs free file 1040ez                         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. Irs free file 1040ez 2014 Estimated Tax Worksheet—Line 1 Estimated Taxable Social Security and Railroad Retirement Benefits Note. Irs free file 1040ez 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. Irs free file 1040ez     1. Irs free file 1040ez Enter your expected social security and railroad retirement benefits 1. Irs free file 1040ez   2. Irs free file 1040ez Enter one-half of line 1 2. Irs free file 1040ez   3. Irs free file 1040ez Enter your expected total income. Irs free file 1040ez Do not include any social security and railroad retirement benefits, nontaxable interest income, nontaxable IRA distributions, or nontaxable pension distributions 3. Irs free file 1040ez   4. Irs free file 1040ez Enter your expected nontaxable interest income 4. Irs free file 1040ez   5. Irs free file 1040ez Enter (as a positive amount) the total of any expected exclusions or deductions for: U. Irs free file 1040ez S. Irs free file 1040ez 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. Irs free file 1040ez   6. Irs free file 1040ez Add lines 2, 3, 4, and 5 6. Irs free file 1040ez   7. Irs free file 1040ez Enter your expected adjustments to income. Irs free file 1040ez Do not include any student loan interest deduction 7. Irs free file 1040ez   8. Irs free file 1040ez Subtract line 7 from line 6. Irs free file 1040ez If zero or less, stop here. Irs free file 1040ez  Note. Irs free file 1040ez 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. Irs free file 1040ez   9. Irs free file 1040ez 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. Irs free file 1040ez   10. Irs free file 1040ez Subtract line 9 from line 8. Irs free file 1040ez If zero or less, stop here. Irs free file 1040ez  Note. Irs free file 1040ez 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. Irs free file 1040ez   11. Irs free file 1040ez 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. Irs free file 1040ez   12. Irs free file 1040ez Subtract line 11 from line 10. Irs free file 1040ez If zero or less, enter -0- 12. Irs free file 1040ez   13. Irs free file 1040ez Enter the smaller of line 10 or line 11 13. Irs free file 1040ez   14. Irs free file 1040ez Enter one-half of line 13 14. Irs free file 1040ez   15
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The Southeastern Power Administration markets hydroelectric power generated by federal reservoirs to public entities in the southeastern United States.

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The Irs Free File 1040ez

Irs free file 1040ez Publication 15-A - Introductory Material Table of Contents Future Developments What's New Reminders Introduction Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 15-A, such as legislation enacted after it was published, go to www. Irs free file 1040ez irs. Irs free file 1040ez gov/pub15a. Irs free file 1040ez What's New Social security and Medicare tax for 2014. Irs free file 1040ez  The social security tax rate is 6. Irs free file 1040ez 2% each for the employee and employer, unchanged from 2013. Irs free file 1040ez The social security wage base limit is $117,000. Irs free file 1040ez The Medicare tax rate is 1. Irs free file 1040ez 45% each for the employee and employer, unchanged from 2013. Irs free file 1040ez There is no wage base limit for Medicare tax. Irs free file 1040ez Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. Irs free file 1040ez Social security and Medicare taxes apply to election workers who are paid $1,600 or more in cash or an equivalent form of compensation. Irs free file 1040ez Withholding allowance. Irs free file 1040ez  The 2014 amount for one withholding allowance on an annual basis is $3,950. Irs free file 1040ez Same-sex marriage. Irs free file 1040ez  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. Irs free file 1040ez For more information, see Revenue Ruling 2013-17, 2013-38 I. Irs free file 1040ez R. Irs free file 1040ez B. Irs free file 1040ez 201, available at www. Irs free file 1040ez irs. Irs free file 1040ez gov/irb/2013-38_IRB/ar07. Irs free file 1040ez html. Irs free file 1040ez Notice 2013-61 provides special administrative procedures for employers to make claims for refunds or adjustments of overpayments of social security and Medicare taxes with respect to certain same-sex spouse benefits before expiration of the period of limitations. Irs free file 1040ez Notice 2013-61, 2013-44 I. Irs free file 1040ez R. Irs free file 1040ez B. Irs free file 1040ez 432, is available at www. Irs free file 1040ez irs. Irs free file 1040ez gov/irb/2013-44_IRB/ar10. Irs free file 1040ez html. Irs free file 1040ez Reminders Additional Medicare Tax withholding. Irs free file 1040ez . Irs free file 1040ez  In addition to withholding Medicare tax at 1. Irs free file 1040ez 45%, you must withhold a 0. Irs free file 1040ez 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Irs free file 1040ez You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Irs free file 1040ez Additional Medicare Tax is only imposed on the employee. Irs free file 1040ez There is no employer share of Additional Medicare Tax. Irs free file 1040ez All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. Irs free file 1040ez For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. Irs free file 1040ez For more information on Additional Medicare Tax, visit IRS. Irs free file 1040ez gov and enter “Additional Medicare Tax” in the search box. Irs free file 1040ez Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans. Irs free file 1040ez  The work opportunity tax credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2014. Irs free file 1040ez Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. Irs free file 1040ez For more information, visit IRS. Irs free file 1040ez gov and enter “work opportunity tax credit” in the search box. Irs free file 1040ez COBRA premium assistance credit. Irs free file 1040ez  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. Irs free file 1040ez For more information, see COBRA premium assistance credit in Publication 15 (Circular E). Irs free file 1040ez Federal tax deposits must be made by electronic funds transfer. Irs free file 1040ez  You must use electronic funds transfer to make all federal tax deposits. Irs free file 1040ez Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). Irs free file 1040ez If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Irs free file 1040ez Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Irs free file 1040ez EFTPS is a free service provided by the Department of Treasury. Irs free file 1040ez Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Irs free file 1040ez For more information on making federal tax deposits, see How To Deposit in Publication 15 (Circular E). Irs free file 1040ez To get more information about EFTPS or to enroll in EFTPS, visit www. Irs free file 1040ez eftps. Irs free file 1040ez gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Irs free file 1040ez Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. Irs free file 1040ez You must receive written notice from the IRS to file Form 944. Irs free file 1040ez  If you have been filing Forms 941, Employer's QUARTERLY Federal Tax Return (or Forms 941-SS, Employer's QUARTERLY Federal Tax Return—American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U. Irs free file 1040ez S. Irs free file 1040ez Virgin Islands, or Formularios 941-PR, Planilla para la Declaración Federal TRIMESTRAL del Patrono), and believe your employment taxes for the calendar year will be $1,000 or less, and you would like to file Form 944, Employer's ANNUAL Federal Tax Return, instead of Forms 941, you must contact the IRS to request to file Form 944. Irs free file 1040ez You must receive written notice from the IRS to file Form 944 instead of Forms 941 before you may file this form. Irs free file 1040ez For more information on requesting to file Form 944, visit IRS. Irs free file 1040ez gov and enter “file employment taxes annually” in the search box. Irs free file 1040ez Employers can request to file Forms 941 instead of Form 944. Irs free file 1040ez  If you received notice from the IRS and have been filing Form 944 but would like to file Forms 941 instead, you must contact the IRS to request to file Forms 941. Irs free file 1040ez You must receive written notice from the IRS to file Forms 941 instead of Form 944 before you may file these forms. Irs free file 1040ez For more information on requesting to file Form 944, visit IRS. Irs free file 1040ez gov and enter “file employment taxes annually” in the search box. Irs free file 1040ez Aggregate Form 941 filers. Irs free file 1040ez  Agents must complete Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, when filing an aggregate Form 941. Irs free file 1040ez Aggregate Forms 941 can only be filed by agents approved by the IRS under section 3504 of the Internal Revenue Code. Irs free file 1040ez To request approval to act as an agent for an employer, the agent must file Form 2678, Employer/Payer Appointment of Agent, with the IRS. Irs free file 1040ez Aggregate Form 940 filers. Irs free file 1040ez  Agents must complete Schedule R (Form 940), Allocation Schedule for Aggregate Form 940 Filers, when filing an aggregate Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. Irs free file 1040ez Aggregate Forms 940 may only be filed by agents acting on behalf of home care service recipients who receive home care services through a program administered by a federal, state, or local government. Irs free file 1040ez To request approval to act as an agent on behalf of home care service recipients, the agent must file Form 2678 with the IRS. Irs free file 1040ez Electronic filing and payment. Irs free file 1040ez  Now, more than ever before, businesses can enjoy the benefits of filing and paying their federal taxes electronically. Irs free file 1040ez Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make filing and payment easier. Irs free file 1040ez Spend less time and worry about taxes and more time running your business. Irs free file 1040ez Use e-file and the Electronic Federal Tax Payment System (EFTPS) to your benefit. Irs free file 1040ez For e-file, visit www. Irs free file 1040ez irs. Irs free file 1040ez gov/efile for additional information. Irs free file 1040ez For EFTPS, visit www. Irs free file 1040ez eftps. Irs free file 1040ez gov or call EFTPS Customer Service at 1-800-555-4477 or 1-800-733-4829 (TDD). Irs free file 1040ez Electronic submission of Forms W-4, W-4P, W-4S and W-4V. Irs free file 1040ez  You may set up a system to electronically receive any or all of the following forms (and their Spanish versions, if available) from an employee or payee. Irs free file 1040ez Form W-4, Employee's Withholding Allowance Certificate. Irs free file 1040ez Form W-4P, Withholding Certificate for Pension or Annuity Payments. Irs free file 1040ez Form W-4S, Request for Federal Income Tax Withholding From Sick Pay. Irs free file 1040ez Form W-4V, Voluntary Withholding Request. Irs free file 1040ez For each form that you establish an electronic submission system for, you must meet each of the following five requirements. Irs free file 1040ez The electronic system must ensure that the information received by the payer is the information sent by the payee. Irs free file 1040ez The system must document all occasions of user access that result in a submission. Irs free file 1040ez In addition, the design and operation of the electronic system, including access procedures, must make it reasonably certain that the person accessing the system and submitting the form is the person identified on the form. Irs free file 1040ez The electronic system must provide exactly the same information as the paper form. Irs free file 1040ez The electronic submission must be signed with an electronic signature by the payee whose name is on the form. Irs free file 1040ez The electronic signature must be the final entry in the submission. Irs free file 1040ez Upon request, you must furnish a hard copy of any completed electronic form to the IRS and a statement that, to the best of the payer's knowledge, the electronic form was submitted by the named payee. Irs free file 1040ez The hard copy of the electronic form must provide exactly the same information as, but need not be a facsimile of, the paper form. Irs free file 1040ez For Form W-4, the signature must be under penalty of perjury, and must contain the same language that appears on the paper version of the form. Irs free file 1040ez The electronic system must inform the employee that he or she must make a declaration contained in the perjury statement and that the declaration is made by signing the Form W-4. Irs free file 1040ez You must also meet all recordkeeping requirements that apply to the paper forms. Irs free file 1040ez For more information, see: Regulations sections 31. Irs free file 1040ez 3402(f)(5)-1(c) (for Form W-4), and Announcement 99-6 (for Forms W-4P, W-4S, and W-4V). Irs free file 1040ez You can find Announcement 99-6 on page 24 of Internal Revenue Bulletin 1999-4 at www. Irs free file 1040ez irs. Irs free file 1040ez gov/pub/irs-irbs/irb99-04. Irs free file 1040ez pdf. Irs free file 1040ez Additional employment tax information. Irs free file 1040ez  Visit the IRS website at www. Irs free file 1040ez irs. Irs free file 1040ez gov/businesses and click on the Employment Taxes link under Businesses Topics. Irs free file 1040ez Telephone help. Irs free file 1040ez  You can call the IRS Business and Specialty Tax Line with your employment tax questions at 1-800-829-4933. Irs free file 1040ez Help for people with disabilities. Irs free file 1040ez  You may call 1-800-829-4059 (TDD/TTY for persons who are deaf, heard of hearing, or have a speech disability) with any tax question or to order forms and publications. Irs free file 1040ez You may also use this number for assistance with unresolved tax problems. Irs free file 1040ez Furnishing Form W-2 to employees electronically. Irs free file 1040ez  You may set up a system to furnish Form W-2, Wage and Tax Statement, electronically. Irs free file 1040ez Each employee participating must consent (either electronically or by paper document) to receive his or her Form W-2 electronically, and you must notify the employee of all hardware and software requirements to receive the form. Irs free file 1040ez You may not send a Form W-2 electronically to any employee who does not consent or who has revoked consent previously provided. Irs free file 1040ez To furnish Forms W-2 electronically, you must meet the following disclosure requirements and provide a clear and conspicuous statement of each requirement to your employees. Irs free file 1040ez The employee must be informed that he or she will receive a paper Form W-2 if consent is not given to receive it electronically. Irs free file 1040ez The employee must be informed of the scope and duration of the consent. Irs free file 1040ez The employee must be informed of any procedure for obtaining a paper copy of his or her Form W-2 and whether or not the request for a paper statement is treated as a withdrawal of his or her consent to receiving his or her Form W-2 electronically. Irs free file 1040ez The employee must be notified about how to withdraw a consent and the effective date and manner by which the employer will confirm the withdrawn consent. Irs free file 1040ez The employee must also be notified that the withdrawn consent does not apply to the previously issued Forms W-2. Irs free file 1040ez The employee must be informed about any conditions under which electronic Forms W-2 will no longer be furnished (for example, termination of employment). Irs free file 1040ez The employee must be informed of any procedures for updating his or her contact information that enables the employer to provide electronic Forms W-2. Irs free file 1040ez The employer must notify the employee of any changes to the employer's contact information. Irs free file 1040ez You must furnish electronic Forms W-2 by the same due date as the paper Forms W-2. Irs free file 1040ez For more information on furnishing Form W-2 to employees electronically, see Regulations section 31. Irs free file 1040ez 6051-1(j). Irs free file 1040ez Photographs of missing children. Irs free file 1040ez  The IRS is a proud partner with the National Center for Missing and Exploited Children. Irs free file 1040ez Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Irs free file 1040ez You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs free file 1040ez Introduction This publication supplements Publication 15 (Circular E). Irs free file 1040ez It contains specialized and detailed employment tax information supplementing the basic information provided in Publication 15 (Circular E). Irs free file 1040ez This publication also contains tables for withholding on distributions of Indian gaming profits to tribal members. Irs free file 1040ez Publication 15-B, Employer's Tax Guide to Fringe Benefits, contains information about the employment tax treatment of various types of noncash compensation. Irs free file 1040ez Ordering publications and forms. Irs free file 1040ez   See Ordering Employer Tax Forms and Publications in Publication 15 (Circular E) and How To Get Tax Help , later, for more information on how to obtain forms and publications. Irs free file 1040ez Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 505 Tax Withholding and Estimated Tax 515 Withholding of Tax on Nonresident Aliens and Foreign Entities 583 Starting a Business and Keeping Records 1635 Employer Identification Number: Understanding Your EIN Comments and suggestions. Irs free file 1040ez   We welcome your comments about this publication and your suggestions for future editions. Irs free file 1040ez    You can write to us at the following address: Internal Revenue Service Tax Forms & Publications Division 1111 Constitution Ave. Irs free file 1040ez NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs free file 1040ez Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs free file 1040ez   You can also send us comments from www. Irs free file 1040ez irs. Irs free file 1040ez gov/formspubs. Irs free file 1040ez Click on More Information and then click on Comment on Tax Forms and Publications. Irs free file 1040ez   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications. Irs free file 1040ez Prev  Up  Next   Home   More Online Publications