Form 1120-W Estimated Tax for Corporations For calendar year 2010, or tax year beginning , 2010, and ending , 20 OMB No-2025

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The installments are due by the 15th day of the 4th, 6th, 9th, and 12th months of the tax year. If any date falls on a Saturday, Sunday, or legal holiday, the installment is due on the next regular business day. The corporation must use electronic funds transfer to make installment payments of estimated tax.
File Form 1128 to request a change in tax year. Partnerships, S corporations, personal service corporations (PSCs), or trusts may be required to file the form to adopt or retain a certain tax year.
Under this method, the amount of each required installment is equal to 25 percent of the tax shown on a corporations return for the preceding tax year. This method is the easiest method to use since it is based on last years liability, a known amount.
The corporation must use electronic funds transfer to make installment payments of estimated tax. Use Form 1120-W, Estimated Tax for Corporations, as a worksheet to compute estimated tax. See the Instructions for Form 1120-W. Penalties may apply if the corporation does not make required estimated tax payment deposits.
Under the current-year safe harbor, no estimated tax penalty is imposed on a corporation that pays, by each quarterly due date, 25 percent of the required annual payment.
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Penalty for underpayment of estimated tax Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller.
Safe Harbor Extended The original safe harbor was only available for the first taxable year beginning after December 31, 2022. The proposed regulations contain a slightly modified version of the $500 million (or $50 million) safe harbor that is available for years not covered by the original safe harbor.
Form 1120-W - Calculating and Paying Estimated Corporate Income Taxes. How can we help? If your corporation follows a calendar year, your estimated corporate tax payments are due April 15, June 15, September 15, and December 15.

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