How do I calculate estimated tax taking into account the recent tax reduction?

Does the 2009 Form 1040-ES (http://www.irs.gov/pub/irs-pdf/f1040es.p... reflect the changes that were just passed by Congress after Obama become President? If not, how do I correctly calculate the estimated tax that I should pay according to the newly past legislation?
How do I calculate estimated tax taking into account the recent tax reduction?
I always stick with the standard "100% or 110% of LAST year's tax liability rule" and just bank any extra as needed if the projected tax liability appears to be exceeding that amount. If it comes in a little lower, I just roll the excess over to the next year to reduce the minimum required payments next year.





If it looks like income (and therefore the tax liability) is dropping precipitously I cut the quarterly payments as needed to meet the 90% rule for the current year.





Unsigned legislation never enters into the fray.
Reply:TFTP Report Abuse

Reply:The changes haven't even been passed, although they probably will be in the next couple days, and the president will almost surely sign it if and when it's passed. It would take awhile before any calculators would be changed. The 1040ES form doesn't change - you just show on that how much estimated tax you are paying. If it passes though with the $400 cut, you could probably reduce your quarterly payments by $100.
Reply:Don't count your tax reductions until the president signs them into law.
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