Tax Trails - Do You have to Pay Estimated Tax?
Do you expect your income tax withholding and credits for the current year to be at least 100% * of the tax shown on your prior year tax return?
Note: Your prior year return must have covered a 12-month period.
* Use (110%) if less than two-thirds of your gross income for the current and prior year is from farming or fishing and your prior year adjusted gross income was more than $150,000 ($75,000 if your filing status for the prior year is married filing a separate return).
Page Last Reviewed or Updated: 2012-08-02
