- 1). Download form 1040 ES from the IRS website (see Resources).
- 2). Inspect each line on your previous year's return.
- 3). Transfer the information from your previous year's return to the estimated tax worksheet (1040 ES). Line 14c will give you your current estimated tax payments. The total you must pay is the smaller of either 90 percent of the current year's estimated taxes, or 100 percent (110 percent if you make over $150,000) of the previous year's taxes.
- 4). Divide the number on line 14c by four to get your estimated quarterly tax payment.
- 5). Send form 1040 ES, as well as a check or money order, to the address listed on the form. Alternatively, you can electronically send payment via the Electronic Federal Tax Payment System (EFTPS). Payments are due April 15, June 15, September 15, and January 15.
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