Estimated Tax Worksheet for 2015

The IRS Estimated Tax Worksheet is now available.  The instructions and worksheet are available at the link below as well as the payment vouchers.  The payment due dates for 2015 are:

First Installment                               4/15/15
Second Installment                          6/15/15
Third Installment                             9/15/15
Fourth Installment                           1/15/16


General rule regarding estimated taxes:

You will need to make estimated tax payments for 2015 if each of the following items applies to your situation:

• You expect to owe at least $1000 in tax for 2015, after subtracting withholdings and refundable credits;
• You expect your withholdings and refundable credits to be less than the smaller of:

           1.  90% of the tax shown on your 2015 tax return or,
           2.  100% of the tax shown on your 2014 tax return

Exception to rule:

You do not have to pay estimated tax for 2015 if you were a US citizen or resident alien for all of 2014 and you had no tax liability for all of the 2014 tax year.  You had no tax liability for 2014 if your total tax was $0 or you did not have to file an income tax return.

Link to 1040 Estimated Tax payment instructions for 2015:         Link