How to Figure Estimated Tax

Estimated tax is paid by using Form 1040ES, Estimated Tax for Individuals. (To view a final version of the 2009 Form 1040ES go to the IRS website at www.irs.gov.)

The Form 1040ES package contains:

• A worksheet that can be used in figuring a taxpayer's estimated tax; taxpayers should keep the worksheet for their records
  
  
• Both the Tax Rate Schedules and the standard deduction and exemption amounts for next year's tax return; use these figures when figuring the estimated tax
  
  
• Instructions, payment vouchers, and payment envelopes