How to File a Quarterly Tax Return

Failing to pay your estimated taxes on time can result in unnecessary stress at the end of the year.

When you are self-employed, you need to pay estimated quarterly taxes to the IRS. A failure to do so can result in hefty penalties and fines. The form for filing quarterly taxes is form 1040-ES, and this form along with the quarterly estimated tax payments are due on April 15, June 15, Sept. 15, and Jan. 18 of each year. Included with the 1040-ES form are detailed instructions along with worksheets to calculate the amount due for your estimated tax payments.

Instructions

1. Download form 1040-ES from the IRS website.

2. Print a copy of the form.

3. Fill out the "Tax Worksheet" with your financial data. By completing this worksheet, you'll determine how much you owe in quarterly taxes.

4. Fill out the appropriate payment voucher. The payment vouchers are numbered 1 through 4. Each has the due date printed on it in the upper right corner.

5. Mail the payment voucher along with your check or money order to the appropriate address. The mailing address varies according to which state you live in. Find your state in the list and mail your voucher to the address given. The mailing address list can be found in the section titled "Where To File Your Estimated Tax Payment Voucher if Paying by Check or Money Order."

Tips & Warnings

• It's better to over-estimate your taxes due than to under-estimate them.

• Providing false information is illegal and punishable by law.

References

• IRS: Form 1040-ES