Self-employed taxpayers must make quarterly estimated tax payments.
As a rule, these estimated tax payments are made in four equal installments using the regular payment method.
The annualized income installment method recalculates the estimated tax payments so that they relate to when the taxpayer earned money during the year.
It is designed to limit underpayments and related underpayment penalties associated with uneven payments where the taxpayer’s income fluctuates throughout the year.
The Electronic Federal Tax Payment System (EFTPS) is a 24/7 service provided by the US Department of the Treasury that allows taxpayers to make tax payments over the phone or the Internet.
Form 1095-B: Health insurance contains health insurance information for taxpayers, their spouses, and dependents if they are enrolled through an insurance company.
Form 1099-R is used to report distributions of annuities, income distribution plans, retirement plans, retirement accounts, insurance contracts, or pensions.
Form 2439 is an IRS form that regulated investment companies (RICs)—mutual funds and exchange-traded funds—and real estate investment trusts (REITs) are required to circulate to shareholders to report unallocated long-term capital gains.