Hi Aviargirl,
Thank you for your question.
Here is a link to the form 1040-ES for estimated taxes.
https://www.irs.gov/forms-pubs/about-form-1040-es
Estimated tax payments are made based on income to both the Federal and/or State. The 1040ES is for the IRS federal payment. There is an applicable form depending on the state you reside.
You can use your income earned during the date below that apply to the payment due date shown.
For income received Jan1 - March 31, estimated tax is due April 15
For income received April 1 - May 31, estimated tax is due June 15
For income received June 1 - August 31, estimated tax is due September 15
For income received Sept. 1 - Dec. 31, estimated tax is due Jan 15
Income from June 1 - August 31 should be used to estimate September 15 payment.
Yes, your Married Filing Joint standard deduction and/or itemized deduction can reduce your taxable income to determine how much tax remains due, if any. If you anticipate owing more than $1,000 in the tax year in question, you should calculate your estimate taxes. Alternatively, you can pay 100 percent of your previous years tax liability spread out over four quarters of the year, or at least 90% of the tax you owe for the current year.
