Instructions for Form REV-414 (I), PA-40 ES (I) - Pennsylvania

Form REV-414 (I) Individuals Worksheet for Estimated Tax - Pennsylvania Form PA-40 ES (I) Declaration of Estimated Personal Income Tax - Pennsylvania

This document contains official instructions for Form REV-414 (I) , and Form PA-40 ES (I) . Both forms are released and collected by the Pennsylvania Department of Revenue. An up-to-date fillable Form REV-414 (I) is available for download through this link. The latest available Form PA-40 ES (I) can be downloaded through this link.

FAQ

Q: What is Form REV-414 (I)?
A: Form REV-414 (I) is a form used by Pennsylvania residents to estimate and pay their state income tax.

Q: What is PA-40 ES (I)?
A: PA-40 ES (I) is an estimated tax form specifically for Pennsylvania residents.

Q: Why would I use Form REV-414 (I) and PA-40 ES (I)?
A: You would use these forms if you need to make estimated tax payments throughout the year, rather than waiting until you file your annual tax return.

Q: What are estimated tax payments?
A: Estimated tax payments are quarterly payments made to the state to cover your tax liability for the year. They are based on an estimate of your income and deductions.

Q: How do I complete Form REV-414 (I) and PA-40 ES (I)?
A: You will need to gather information about your income, deductions, and credits. Then, you will calculate your estimated tax liability and make quarterly payments.

Q: When are the quarterly payment due dates?
A: The due dates for quarterly estimated tax payments are April 15th, June 15th, September 15th, and January 15th (of the following year).

Q: What happens if I don't make estimated tax payments?
A: If you don't make estimated tax payments or if you underpay, you may be subject to penalties and interest.

Q: Can I file Form REV-414 (I) and PA-40 ES (I) electronically?
A: Yes, you can file these forms electronically if you prefer.

Q: Do I need to file Form REV-414 (I) and PA-40 ES (I) if I have taxes withheld from my paycheck?
A: If you have sufficient taxes withheld from your paycheck, you may not need to make estimated tax payments. However, it's recommended to evaluate your tax situation to avoid potential penalties.