Quarterly Payments

Your quarterly payments are also referred to as estimated tax. You make quarterly payments typically when you have significant investment income or business income or when you are retired. These payments are due in April, June, September and January. You use form 1040-ES to make these payments. If you asked the IRS to apply your 2006 refund to your 2007 tax, include that amount as estimated taxes. Do NOT include tax withheld by your employer in this number.