Use this template to plan federal income tax payments and to look for opportunities to reduce taxable income. The worksheet has all the major elements of the IRS Form 1040. By filling out this worksheet you can keep track of the taxable income you have already earned and the estimated taxable income yet to be earned before year-end. If you revise this form every month or two, you will assure that you will not incur an underpayment of income tax penalty. You may also trigger a few tax saving strategies.
To view the template, click the worksheet tab labeled Template at the bottom of the screen or press Ctrl-PgDn. With the exception of data entry cells, all cells are protected. Use the Tab key to move from one unprotected cell to the next.