Get Mi 1040 Es 2020

This guide provides a clear and supportive overview of how to complete the Mi 1040 Es 2020 form online. By following these steps, you will ensure that all required information is accurately submitted, helping to facilitate your tax obligations effectively.

Follow the steps to complete the Mi 1040 Es 2020 form online.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. Begin by estimating your income for the tax year. Refer to your previous year's federal adjusted gross income and Michigan Schedule 1 for allowable additions and subtractions.
3. Enter your estimated income subject to tax on line 1 of the form.
4. Determine your exemption allowance based on your 2019 MI-1040 return and enter that amount on line 2.
5. Subtract line 2 from line 1 to find your balance. Enter this amount on line 3.
6. Calculate your estimated tax by multiplying the amount on line 3 by 4.25% (0.0425) and record this on line 4.
7. List all estimated credits on line 5 and the tax you expect to be withheld from your earnings or retirement income on line 6.
8. Add lines 5 and 6 to obtain your total deductions and record this amount on line 7.
9. Subtract line 7 from line 4 to calculate your estimated tax due and write this value on line 8.
10. Divide the amount on line 8 by 4 (or the number of estimated vouchers to be filed) to determine your estimated payment due, which you will enter on each voucher.
11. Review all your entries for accuracy, then save any changes you've made, and choose to download, print, or share the completed form.

Complete your documents online to ensure timely and accurate filing.