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About Tax Map

Publication 505
Tax Withholding and Estimated Tax
(Rev 12/2004)
Introduction, Useful Items and Important Changes.

Chapter 1
Tax Withholding for 2005

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

Sick Pay

Pensions and Annuities

Periodic Payments
Nonperiodic Payments
Eligible Rollover Distributions
Choosing Not To Have Income Tax Withheld

Gambling Winnings

Unemployment Compensation

Federal Payments

Backup Withholding

Chapter 2
Estimated Tax for 2005

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
Electronic Federal Tax Payment System (EFTPS)
Payment by Electronic Funds Withdrawal
Payment by Credit Card

Illustrated Examples

Example 2.9: Regular Installment Method
Example 2.10: Annualized Income Installment Method

Chapter 3
Credit for Withholding and Estimated Tax for 2004

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

Worksheet for Nonrailroad Employees
Worksheets for Railroad Employees

Chapter 4
Underpayment Penalty for 2004

General Rule

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

Chapter 5
How To Get Tax Help