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Can you prepay federal income taxes?

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Can you prepay federal income taxes?

Yes, you can prepay federal income taxes through estimated tax payments. Generally, you're required to make estimated tax payments if you expect to owe at least $1,000 in tax for 2009 (after subtracting credits and withholding) and if your withholdings and credits are expected to be less than the smaller of 90 percent of the tax on your 2009 return or 100 percent of the tax on your 2008 tax return.

Estimated tax payments are paid quarterly (every three months). You can make estimated tax payments by check or money order attached to Form 1040-ES (Estimated Tax Payment Voucher). Or you make an electronic payment by enrolling in the Electronic Federal Tax Payment System (EFTPS) at www.eftps.gov or calling 1-800-316-6541 (for individuals) or 1-800-555-4477 (for businesses). Or you can make electronic payment by Electronic Funds Withdrawal (EFW). Or you can make electronic payment by credit card. But a convenience fee is charged for this option.

If you receive salaries and wages, you ask your employer to withhold more tax from your earnings by fiiling a new Form W-4 with your employer and entering the additional amount to be withheld on Line 6 of that form.

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Federal income tax dates back to?

1913 is the correct answer. Taxes were assessed on some specific activities such as sales of goods, import duties and so on. Indeed, it took a special amendment to the con

When did federal income tax begin?

  1862 - President Lincoln signed into law a revenue-raising measure to help pay for Civil War expenses. The measure created a Commissioner of Internal Revenue and the nat

When do you have to pay federal income tax?

  Your taxes must be paid through out the year. That is, by either payroll withholding or making estimated payments on your estimated amount due quarterly...with a Form 10

Who established the federal income tax?

It is allowed by the Constitution. Essentially the system to enforce and handle the Tax Laws themselves - were passed after much debate and discussion by the elected members o

What amendment established federal income tax?

  The 16th Amendment made it legal for the Congress to lay and collect taxes on income. It is the contention of some that because the Congress does NOT do the collecting
Do you have to file federal income tax?

Do you have to file federal income tax?

You would be the only one that will have all of the necessary information to determine this answer. A self employed taxpayer would be required to file an income tax return i

When are federal income taxes due?

The total amount of your federal income tax that is due for the calender year taxpayer is usually due to be postmarked before MIDNIGHT April 15 of the year after the tax year

What is the current federal income tax?

For the 2010 tax year the federal income tax rate on the individual taxpayer 1040 income tax return is 10% to the maximum 35% on the taxpayer TAXABLE INCOME AMOUNT after the 1

Can you claim your pets on your federal income taxes?

If by "claim" you are referring to an exemption, the answer is no. Since your animals are pets, you may be able to deduct related moving expenses (assuming you moved during th