Home
Forms Library
2016 Publication 505 Tax Withholding and Estimated Tax - irs

2016 Publication 505 Tax Withholding and Estimated Tax - irs-2025

2016 Publication 505 Tax Withholding and Estimated Tax - irs Preview on Page 1

See details

4 out of 5

43 votes

Publication 505 provides guidance on tax withholding and estimated tax for the year 2016. It covers topics such as the methods of paying taxes as income is earned, including withholding from salaries and wages, pensions, and other forms of income. The document outlines who must pay estimated tax, how to calculate it, when payments are due, and how to take credit for withholding and estimated tax payments made in the previous year. Additionally, it discusses penalties for underpayment of taxes and offers worksheets to assist taxpayers in determining their obligations.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The best way to modify 2016 Publication 505 Tax Withholding and Estimated Tax - irs in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Handling documents with our extensive and user-friendly PDF editor is simple. Make the steps below to complete 2016 Publication 505 Tax Withholding and Estimated Tax - irs online quickly and easily:

Log in to your account. Log in with your email and password or register a free account to try the product before upgrading the subscription.
Import a form. Drag and drop the file from your device or import it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit 2016 Publication 505 Tax Withholding and Estimated Tax - irs. Quickly add and highlight text, insert pictures, checkmarks, and icons, drop new fillable areas, and rearrange or delete pages from your paperwork.
Get the 2016 Publication 505 Tax Withholding and Estimated Tax - irs accomplished. Download your adjusted document, export it to the cloud, print it from the editor, or share it with other participants through a Shareable link or as an email attachment.

Make the most of DocHub, the most straightforward editor to rapidly handle your documentation online!

See more 2016 Publication 505 Tax Withholding and Estimated Tax - irs versions

We've got more versions of the 2016 Publication 505 Tax Withholding and Estimated Tax - irs form. Select the right 2016 Publication 505 Tax Withholding and Estimated Tax - irs version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2023	4.3 Satisfied (21 Votes)
2022	4.8 Satisfied (52 Votes)
2021	4.8 Satisfied (46 Votes)
2020	4.1 Satisfied (26 Votes)
2014	4 Satisfied (43 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is withholding tax the same as estimated tax payments?

Those who are employed have taxes withheld from their paychecks by their employers based on the W-4 forms the employees complete. Others need to make these payments directly to the government in the form of an estimated tax, rather than waiting until the end of the year to pay when they file their annual tax return.

What happens if I increase my tax withholding?

The more taxes you withhold from your pay, the less you may owe when your tax bill is due. Knowing when to increase or decrease the amount of taxes withheld from your paycheck can depend on: How many jobs you have. If you have income from outside your job that is not subject to withholding.

Can I increase my withholding instead of paying estimated taxes?

If you receive salaries and wages, you can avoid having to pay estimated tax by asking your employer to withhold more tax from your earnings. To do this, file a new Form W-4 with your employer. There is a special line on Form W-4 for you to enter the additional amount you want your employer to withhold.

How do I change my withholding to not pay taxes?

Change your withholding To change your tax withholding you should: Complete a new Form W-4, Employees Withholding Allowance Certificate, and submit it to your employer. Complete a new Form W-4P, Withholding Certificate for Pension or Annuity Payments, and submit it to your payer.

Can I choose not to pay estimated taxes?

If you expect to owe over a certain amount, you must make estimated tax payments throughout the year.

Is each personal exemption for 2016 worth $4050?

and Personal Exemption. The standard deduction for single and married couples filing jointly will not increase in 2016 (Table 2). For taxpayers filing as head of household, it will increase by $50 from $9,250 to $9,300. The personal exemption for 2016 will be $4,050.

What is IRS publication 505?

This publication explains the two methods for the pay-as-you-go federal income tax, withholding and estimated tax.

Is it better to pay estimated taxes or increase withholding?

Self-employed persons, retirees, and nonworking individuals most often must pay estimated taxes to avoid the penalty. But an employee may need to pay them if the amount of tax withheld from wages is insufficient to cover the tax owed on other income.

2016 Publication 505 Tax Withholding and Estimated Tax - irs-2025

Here's how it works

The best way to modify 2016 Publication 505 Tax Withholding and Estimated Tax - irs in PDF format online