What is form 1040 ES?
The 1040 ES, also called the Estimated Tax For Individuals Form, is an IRS tax form used by contractors and consultants to calculate tax payments to the IRS throughout the year. Unlike other versions of the 1040 form, the 1040 ES is used to report and pay taxes for the current year, rather than the previous one.
Why do you need the 1040 ES form?
If you work and don’t have your taxes withheld by an employer, you are responsible for paying all applicable State and Federal taxes yourself.
This is the case for any contractor, consultant, or otherwise self-employed individual. The IRS officially recommends that anyone who expects to owe more than $1,000 in taxes in a given year and won’t have those taxes withheld by an employer use the 1040 ES form.
Where is form 1040-ES sent?
Where to send your form 1040-ES depends on the place where you live. There are three IRS offices covering the US states and territories (e.g. Guam or American Samoa): in Louisville, KY; in Charlotte, NC; and in Cincinnati, OH. Check with the IRS website to learn where exactly you should send your form.
How do I get the 1040 form?
There are several ways to get the 1040 form: 1. Download it from the IRS website; 2. Call 1-800-TAX-FORM (1-800-829-3676) 3. Download a fillable and legal template from a reputable third party, e.g. PandaDoc. Any of these options will fit; choose what’s most convenient for you.