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Publication 505 (2/2004), Tax Withholding and Estimated Tax
Revised: 2/2004
Table of Contents
Publication 505 - Introductory Material
Introduction
Important Changes for 2003
Important Changes for 2004
Important Reminders
1. Tax Withholding for 2004
Introduction
Useful Items - You may want to see:
Salaries and Wages
Determining Amount of Tax Withheld Using Form W–4
Completing Form W–4 and Worksheets
Getting the Right Amount of Tax Withheld
Rules Your Employer Must Follow
Exemption From Withholding
Supplemental Wages
Penalties
Tips
Taxable Fringe Benefits
Special rule.
Exceptions.
Sick Pay
Pensions and Annuities
Periodic Payments
Nonperiodic Payments
Eligible Rollover Distributions
Choosing Not To Have Income Tax Withheld
Gambling Winnings
Identical wagers.
Unemployment Compensation
Federal Payments
Backup Withholding
Taxpayer identification number (TIN).
Underreported interest or dividends.
2. Estimated Tax for 2004
Important Changes for 2004
Important Reminders
Introduction
Topics - This chapter discusses:
Useful Items - You may want to see:
Who Does Not Have To Pay Estimated Tax
Who Must Pay Estimated Tax
General Rule
Married Taxpayers
Special Rules for Farmers and Fishermen and Higher Income Taxpayers
Aliens
Estates and Trusts
How To Figure Estimated Tax
Expected Adjusted Gross Income
Expected Taxable Income
Expected Taxes and Credits
Required Annual Payment
Total Estimated Tax Payments
When To Pay Estimated Tax
When To Start
Farmers and Fishermen
How To Figure Each Payment
Regular Installment Method
Annualized Income Installment Method
Estimated Tax Payments Not Required
How To Pay Estimated Tax
Crediting an Overpayment
Using the Payment-Vouchers
Payment by Electronic Funds Withdrawal
Payment by Credit Card
Illustrated Examples
Example 2.9: Regular Installment Method
Example 2.10: Annualized Income Installment Method
3. Credit for Withholding and Estimated Tax for 2003
Important Change
Introduction
Topics - This chapter discusses:
Withholding
Form W–2
Form W–2G
The 1099 Series
Form Not Correct
Form Received After Filing
Separate Returns
Fiscal Years
Estimated Tax
Separate Returns
Divorced Taxpayers
Excess Social Security or Railroad Retirement Tax Withholding
Joint returns.
Worksheet for Nonrailroad Employees
Worksheets for Railroad Employees
4. Underpayment Penalty for 2003
Important Change
Important Reminders
Introduction
Topics - This chapter discusses:
Useful Items - You may want to see:
General Rule
Farmers and fishermen.
Higher income taxpayers.
When penalty is charged.
Lowering or eliminating the penalty.
Exceptions
Less Than $1,000 Due
No Tax Liability Last Year
Figuring Your Required Annual Payment
Short Method for Figuring the Penalty
Regular Method for Figuring the Penalty
Figuring Your Underpayment (Section A of Part IV)
Figuring Your Penalty (Section B of Part IV)
Farmers and Fishermen
Waiver of Penalty
Farmers and fishermen.
5. How To Get Tax Help
Publication 505 - Additional Material
Index
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