**The information below has not been verified for the 2020 tax year as the IRS Form 1040-ES instructions have not yet been released by the IRS.**
Per IRS Instructions for Form 1040-ES Estimated Tax for Individuals:
Who Must Make Estimated Tax Payments
The estimated tax rules apply to:
In most cases, you must pay estimated tax for 2020 if both of the following apply.
Note. These percentages may be different if you are a farmer, fisherman, or higher income taxpayer. See Special Rules, later.
Exception. You don’t have to pay estimated tax for 2020 if you were a U.S. citizen or resident alien for all of 2019 and you had no tax liability for the full 12-month 2019 tax year. You had no tax liability for 2019 if your total tax was zero or you didn’t have to file an income tax return.
To enter the applicable estimated tax information into the TaxAct program:
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.