Re: Received Est. Tax Form 1040-ES For First Time (cross post)
I don't understand this form. Let me offer you a suggestion, though. My tax software LAST year indicated that figuring your tax or any penalties will be much easier next April if you make uniform 1040-ES payments throughout the year.
So what I suggest is:
After some more knowledgeable people help you figure out this little IRS bag of happiness, and you know what you intend to pay them, pay the same amount each time. Like, make all your checks for $750. Don't pay more or less from payment to payment as this may complicate your taxes in April.
Also note that the stupid weiner due dates are NOT three months apart. One time they give you four months to hustle up a payment, another time, they give you only two. This puts a strain on the "level payment" plan if you bit off more than you can chew in the first place.
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