If you owed additional tax for 2006, you may have to pay estimated tax for 2007.As a general rule, you must pay estimated tax for 2007 if both of the following apply:
1. You expect to owe at least $1000 in tax for 2007, after subtracting your withholding and credits.
2. You expect your withholding ans credits to be less than the smaller of:
a.90% of the tax to be shown on your 2007 tax return, or
b. 100% of the tax shown on your 2006 tax return. Your 2006 tax return must cover all 12 months.
Aliens-
Resident and non resident aliens also may have to pay estimated tax. Resident aliens should follow the rules in this publication, unless noted otherwise. Nonresident aliens should get Form 1040-ES. You are an alien if you are not a citizen of the United States. You are an alien if you are not a citizen or national of the United States. You are a resident alien if you either have a green card or meet the substantial presence test.
Resident and non resident aliens also may have to pay estimated tax. Resident aliens should follow the rules in this publication, unless noted otherwise. Nonresident aliens should get Form 1040-ES. You are an alien if you are not a citizen of the United States. You are an alien if you are not a citizen or national of the United States. You are a resident alien if you either have a green card or meet the substantial presence test.
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