Decreased Estimated Tax Payments for Qualified Individuals With Small Businesses

For 2009, qualified individuals with small businesses may be eligible to make smaller estimated tax payments. If you qualify, your required annual payment for 2009 is the smaller of 90% of the tax shown on your 2008 tax return or 90% of the tax shown on your 2009 tax return. You must check box F in Part II on Form 2210 or box C on Form 2210-F to certify that you qualify.
You are a qualified individual if:

  • More than 50% of your gross income was from a business that had an average of fewer than 500 employees in 2008, and
  • Your adjusted gross income in 2008 was less than $500,000 ($250,000 if you are filing married filing separately for 2009).
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