Received Est. Tax Form 1040-ES For First Time

[Theodore Donald Kiravatsos]

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2. Has anyone received these? did you receive it only after playing as sole income?


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What I recall from reading the form, is that the general idea is that IF, on April 15th, you have to cut the IRS a check for over $1000, then you should be (have been) paying estimated taxes in installments.

So like, even if you have a job where you have taxes deducted, if you end up earning too much from other sources, and your work deductions aren't enough, you may have to use 1040-ES even though you are subject to other withholding.

A good way to end up using 1040-ES is to be a couple of DINKs with few deductions, but claiming one exemption on your W-4, each.