500 Es Form – Fill Out and Use This PDF

The 500 ES form is a crucial tool for individuals and fiduciaries in Georgia, used to calculate and pay estimated taxes when income is not subject to withholding or exceeds certain thresholds. Filing this form prevents underpayment penalties by allowing taxpayers to spread their tax payments throughout the year. To ensure you're meeting your tax obligations accurately and on time, consider filling out the 500 ES form by clicking the button below.

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500 Es Form PDF Details

Navigating the fiscal responsibilities of income not subject to regular withholding in Georgia, the Form 500 ES becomes a pivotal document for individuals and fiduciaries alike. This form aims to streamline the process of estimated tax payment, essential for those who expect their gross income to surpass the sum of their personal exemption, dependents’ credit, anticipated deductions, and an additional $1,000. Notably, the instructions provided with the form simplify the prerequisite of obtaining the latest version of Adobe Reader to facilitate the creation of a payment voucher that is to be mailed—sans folding, stapling, or clipping—to the Georgia Department of Revenue. The 500 ES Worksheet included aids in calculating and reporting estimated taxes accurately, outlining the due dates and payment methods available, such as checks, money orders, or credit card payments via the department’s website. Furthermore, the form delineates who must file, the purpose of estimated tax, and how to precisely estimate one’s tax alongside the provisioned standard deductions based on filing status and additional considerations for age or blindness. It also highlights the penalties for non-compliance, underscoring the importance of meeting estimated tax obligations to avoid legal repercussions. Lastly, it provides clarity on when and where to file, with tailored deadlines for non-farmers or fishermen and those filing on a fiscal year basis, ensuring all taxpayers are well-equipped to fulfill their state tax obligations efficiently.

Question	Answer
Form Name	500 Es Form
Form Length	2 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	30 sec
Other names	Fillable Online Form 500EZ - Department of Revenue Fax ...

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State of Georgia Department of Revenue

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KEEP THESE INSTRUCTIONS AND WORKSHEET WITH YOUR RECORDS

Instructions

1.Download (free) the latest version of Adobe Reader. adobe.com/products/acrobat/readstep2.html

2.Complete the worksheet below to automatically create your payment voucher.

3.Click the “Print” button to print a completed 500 ES Individual/Fiduciary payment voucher.

4.Cut the payment voucher along the dotted line and mail the voucher and your payment only o the address on the voucher.

DO NOT fold, staple or paper clip items being mailed.

DO NOT mail in the worksheet, keep this for your records.

500-ES Worksheet for Individual/Fiduciary

1.	2. Spouse’s SSN:

3.Individual or Fiduciary Name:

4.		Street Address Line 1:
	5.	Street Address Line 2:
	6.	City:	7. State:	8. Zip:	-
9.		.........................Please Select Tax Type of Return:
10.		Check If Address Change:
10.		Check If Address Change:


11.		Calendar Year or Fiscal Year Ending:
12.		Due Date:
12.		Due Date:

13.		Amount Paid:

INSTRUCTIONS FOR INDIVIDUAL AND FIDUCIARIES ESTIMATED TAX (500ES)

WHO MUST FILE ESTIMATED TAX. Each individual or fiduciary subject to Georgia income tax who reasonably expects to have gross income during the year which exceeds (1) personal exemption, plus (2) credit for dependents, plus (3) estimated deductions, plus (4) $1,000 of income not subject to withholding.

EXCEPTION. Estimated tax is not required if, under an agreement between the employer and the employee, additional tax is withheld to cover income that normally would require estimated tax to be filed.

Individuals whose gross income from farming or fishing is at least two thirds of the total gross income from all sources may: (a) file as other taxpayers or (b) file their return by March 1 and pay the full amount of tax due by that date. Fiduciaries shall not be required to pay estimated tax with respect to any taxable year ending before the date two years after the date of the decedent’s death in the case of:

1.The estate of such decedent; or

2.A testamentary trust as defined in IRC Section 6654(l)(2)(B).

PURPOSE OF ESTIMATED TAX. The purpose is to enable taxpayers having income not subject to withholding to currently pay their income tax. Taxpayers are also required to file an annual return claiming credit thereon for amounts paid or credited to their estimated tax.

PAYMENT OF ESTIMATED TAX. Payment in full of your estimated tax may be made with the first required installment or in equal installments during this year on or before April 15, June 15, September 15, and the following January 15. Fiscal year filers should adjust the dates accordingly. If the due date falls on a weekend or holiday, the tax shall be due on the next day that is not a weekend or holiday.

HOW TO ESTIMATE YOUR TAX. A schedule for computing your estimated tax and the tax rate schedules are listed in the Tax Booklet.

PENALTIES. Failure to comply with the provisions of this law relative to underpayment of installments may result in the assessment of additional charges as a penalty. Willful failure to pay estimated tax will constitute a misdemeanor.

STANDARD DEDUCTION.
Single and head of household			$5,400
Married	filing	jointly	$7,100
Married	filing	separately	$3,550
Additional Deduction:
		Age 65 or older	$1,300
		Blind	$1,300

These additional deductions are for you and your spouse only if the standard deduction is used. These amounts are standard regardless of income.

WHEN AND WHERE TO FILE. Estimated tax required from persons not regarded as farmers or fishermen shall be filed on or before April 15 of the taxable year, except if the above requirements are first met on or after April 1 and before June 1, estimated tax must be filed by June 15; on or after June 1 but before September 1, by September 15; and on or after September 1, by January 15 of the following year. Individuals filing on a fiscal year basis ending after December 31 must file on corresponding dates.

Make check or money order payable to:

“Georgia Department of Revenue”

Payment should be mailed to:

Processing Center

Georgia Department of Revenue

PO Box 740319

Atlanta, Georgia 30374-0319

You may also pay estimated tax with a credit card. Visit our website at dor.georgia.gov for more information.

HOW TO COMPLETE FORM 500 ES.

Complete the name and address field located on the upper right side of coupon. Calculate your estimated tax using the schedule in the tax booklet . Line 15 is your estimated tax for the year. Divide Line 15 by the number of quarters of liability (see “When and Where to File” above) to compute the amount to be submitted quarterly. Enter this amount on Form 500 ES and submit to the Georgia Department of Revenue.

EXEMPTION AMOUNT FOR TAX YEAR 2022
Personal Exemption for self and spouse if married (each)	$3,700
Personal Exemption for self if not married	$2,700
Dependent Exemption	$3,000

Maximum Retirement Income Exclusion:

If age 62-64 or less than 62 and permanently disabled	$35,000
If age 65 or older	$65,000

For additional information concerning Individual forms please call: 1-877-423-6711.

Georgia Public Revenue Code Section 48-2-31 stipulates that taxes shall be paid in lawful money of the United States, free of any expense to the State of Georgia.

PLEASE DO NOT STAPLE. PLEASE REMOVE ALLATTACHED CHECK STUBS.

Cut along dotted line

500 ES (Rev. 04/01/21)

Individual or Fiduciary Name and Address:

Individual and Fiduciary Estimated

Tax Payment Voucher

Calendar Year

or Fiscal Year Ending

TYPE OF RETURN:

Taxpayer’s SSN or Fiduciary FEIN

Spouse’s SSN

Tax Year

Quarter

Due Date

Vendor Code

040

PLEASE DO NOT STAPLE. REMOVEALL CHECK STUBS.

If your name and address is incorrect,

mark the change of address box and make

PROCESSING CENTER

the

change in the box below.

Address Change

GEORGIA DEPARTMENT OF REVENUE

PO BOX 740319
ATLANTAGA 30374-0319	Amount Paid $

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1. You will need to fill out the 500 Es Form correctly, therefore be careful while filling out the sections containing these blanks:

2. Now that the previous section is finished, you need to put in the needed specifics in ES Rev Individual and, Individual or Fiduciary Name and, Calendar Year, o r Fi scal Y ear Ending, TYPE OF RETURN, Taxpayers SSN or Fiduciary FEIN, Spouses SSN, Tax Year, Quarter, Due Date, Vendor Code, PLEASE DO NOT STAPLE REMOVE ALL, If your name and address is, PROCESSING CENTER GEORGIA, and Amount Paid so that you can move on to the 3rd stage.

500 Es Form writing process clarified (stage 2)

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500 Es Form – Fill Out and Use This PDF

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