Publication 583 - Income Tax
All businesses except partnerships must file an annual income tax return. Partnerships file an information return.
Which form you use depends on how your business is organized. See Table 2 on page 6 to find out which return
you have to file.

The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the
year. An employee usually has income tax withheld from his or her pay. If you do not pay your tax through
withholding, or do not pay enough tax that way, you might have to pay estimated tax. If you are not required to
make estimated tax payments, you may pay any tax due when you file your return.

Table 2. Which Forms Must I File?
1 File a separate schedule for each business.
2  Do not use if you deposit taxes electronically.
3  Various other schedules may be needed.

Estimated tax.   Generally, you must pay taxes on income, including self-employment tax (discussed next), by
making regular payments of estimated tax during the year.

Sole proprietors, partners, and S corporation shareholders.   You generally have to make estimated tax
payments if you expect to owe tax of $1,000 or more when you file your return. Use Form 1040-ES, Estimated Tax
for Individuals, to figure and pay your estimated tax. For more information, see Publication 505, Tax Withholding
and Estimated Tax.

Corporations.   You generally have to make estimated tax payments for your corporation if you expect it to owe
tax of $500 or more when you file its return. Use Form 1120-W, Estimated Tax for Corporations, to figure the
estimated tax. You must deposit the payments as explained on page 8 under Depositing Taxes. For more
information, see Publication 542.

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