No forms. I just pay online. You’ll want to select the tax year and that it’s an estimated tax payment.
No need to pay 30% of your income. You just have to pay 100% of your tax burden for this year or 110% of last year’s tax. It might actually be 90% and 100% since you didn’t have high/attending income last year.
Regardless, you get a break this year for your estimated taxes since you didn’t make much last year. So you can make lower quarterly payments. Note you’ll still owe the full amount next April, so you DO still want to withhold 20-30% of your income. You just don’t have to give it all to Uncle Sam just yet. So set it aside in in a high yield savings account.
I personally withhold about 33% I prefer to over-save. I make quarterly tax payments of 110% of last year’s taxes. Typically I’m withholding/saving more for my tax bill than I’m actually paying in estimated taxes, so I keep that in a high yield savings account, then in September I do some preliminary tax calculations and often at that point I have a good idea of what I really owe—which is closer to 20-25% of my gross business earnings.
All this assumes you’re an independent contractor and actually have to pay estimated taxes. If you’re an employee then you don’t have to make estimated taxes unless you have a 1099 side hassle
