Use this package to figure and pay your estimated tax. If you are not required to make estimated tax payments for 2006, you can discard this package. Estimated tax is the method used to pay tax on income that is not subject to withholding. In addition, if you do not elect voluntary withholding, you should make estimated tax payments on unemployment compensation and the taxable part of your social security benefits. See the 2005 instructions for your tax return for details on income that is taxable. You may pay all of your estimated tax by April 17, 2006, or in four equal amounts by the dates shown below. 1st payment April 17, 2006 2nd payment June 15, 2006 3rd payment Sept. 15, 2006 4th payment Jan. 16, 2007* *Do not have to make the payment due January 16, 2007, if you file your 2006 tax return by January 31, 2007, and pay the entire balance due with your return. |