Form 1120-W

(WORKSHEET)

Department of the Treasury 

Internal Revenue Service 

Estimated Tax for Corporations

For calendar year 2021, or tax year beginning , 2021, and ending , 20

▶ Go to www.irs.gov/Form1120W for instructions and the latest information.

▶ Keep for the corporation’s records—Do not send to the Internal Revenue Service.

OMB No. 1545-0123

2021

Estimated Tax Computation 

1 Taxable income expected for the tax year . . . . . . . . . . 1 

2 Multiply line 1 by 21% (0.21) . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Tax credits. See instructions. . . . . . . . . . . . . . . . . . . . . . . . 3

4 Subtract line 3 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . 4

5 Other taxes. See instructions . . . . . . . . . . . . . . . . . . . . . . . 5

6 Total tax. Add lines 4 and 5 . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Credit for federal tax paid on fuels and other refundable credits. See instructions . . . . . . 7

8 Subtract line 7 from line 6. Note: If the result is less than $500, the corporation is not required to 

make estimated tax payments . . . . . . . . . . . . . . . . . . . . . . . 8

9 a Enter the tax shown on the corporation’s 2020 tax return. See instructions. Caution: If the tax is zero or 

the tax year was for less than 12 months, skip this line and enter the amount from line 8 on line 9b . . 9a 

b Enter the smaller of line 8 or line 9a. If the corporation is required to skip line 9a, enter the 

amount from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9b 

(a) (b) (c) (d) 

10 Installment due dates. See 

instructions . . . . . . ▶ 10

11 Required installments. Enter 

25% of line 9b in columns (a) 

through (d). If the corporation uses 

the annualized income installment 

method, or adjusted seasonal 

installment method, or is a “large 

corporation,” see the instructions 

for the amount to enter . . . . 11

For Paperwork Reduction Act Notice, see instructions. Cat. No. 11525G Form 1120-W (2021) 
Form 1120-W (WORKSHEET) 2021 Page 2 

Schedule A Adjusted Seasonal Installment Method and Annualized Income Installment Method 

(see instructions) 

Part I Adjusted Seasonal Installment Method 

Use this method only if the base period percentage for any 6 

consecutive months is at least 70%.

(a) (b) (c) (d) 

First 3 months First 5 months First 8 months First 11 months 

1 Enter taxable income for the following periods: 

a Tax year beginning in 2018. 1a 

b Tax year beginning in 2019. 1b 

c Tax year beginning in 2020. 1c 

2 Enter taxable income for each period for the tax year beginning in 

2021. See instructions for the treatment of extraordinary items. 2 

First 4 months First 6 months First 9 months Entire year 

3 Enter taxable income for the following periods: 

a Tax year beginning in 2018. 3a 

b Tax year beginning in 2019. 3b 

c Tax year beginning in 2020. 3c 

4 Divide the amount in each column on line 1a by the amount in 

column (d) on line 3a. 4 

5 Divide the amount in each column on line 1b by the amount in 

column (d) on line 3b. 5 

6 Divide the amount in each column on line 1c by the amount in 

column (d) on line 3c. 6 

7 Add lines 4 through 6. 7 

8 Divide line 7 by 3.0. 8 

9a Divide line 2 by line 8. 9a 

b Extraordinary items (see instructions). 9b 

c Add lines 9a and 9b. 9c 

10 Figure the tax on the amount on line 9c by following the same 

steps used to figure the tax on page 1, line 2. 10 

11a Divide the amount in columns (a) through (c) on line 3a by the 

amount in column (d) on line 3a. 11a 

b Divide the amount in columns (a) through (c) on line 3b by the 

amount in column (d) on line 3b. 11b 

c Divide the amount in columns (a) through (c) on line 3c by the 

amount in column (d) on line 3c. 11c 

12 Add lines 11a through 11c. 12 

13 Divide line 12 by 3.0. 13 

14 

 

Multiply the amount in columns (a) through (c) of line 10 by the 

amount in the corresponding column of line 13. In column (d), 

enter the amount from line 10, column (d). 14 

15 Reserved. 15 

16 Enter any other taxes for each payment period. See instructions. 16 

17 Add lines 14 and 16. 17 

18 For each period, enter the same type of credits as allowed on 

page 1, lines 3 and 7. See instructions. 18 

19 Subtract line 18 from line 17. If zero or less, enter -0-. 19 

Form 1120-W (2021) 
Form 1120-W (WORKSHEET) 2021 Page 3 

Part II Annualized Income Installment Method

(a) (b) (c) (d) 

20 Annualization periods (see instructions). 20 

First 

months 

First 

months 

First 

months 

First 

months 

21 Enter taxable income for each annualization period. See 

instructions for the treatment of extraordinary items. 21 

22 Annualization amounts (see instructions). 22 

23a Annualized taxable income. Multiply line 21 by line 22. 23a 

b Extraordinary items (see instructions). 23b 

c Add lines 23a and 23b. 23c 

24 

 

Figure the tax on the amount in each column on line 23c by 

following the same steps used to figure the tax on page 1, 

line 2. 24 

25 Reserved. 25 

26 Enter any other taxes for each annualization period. See 

instructions. 26 

27 Total tax. Add lines 24 and 26. 27 

28 For each annualization period, enter the same type of credits 

as allowed on page 1, lines 3 and 7. See instructions. 28 

29 Total tax after credits. Subtract line 28 from line 27. If zero or 

less, enter -0-. 29 

30 Applicable percentage. 30 25% 50% 75% 100%

31 Multiply line 29 by line 30. 31 

Part III Required Installments 

Note: Complete lines 32 through 38 of one column before

completing the next column.

1st installment 2nd installment 3rd installment 4th installment 

32 

 

 

If only Part I or Part II is completed, enter the amount in each 

column from line 19 or line 31. If both parts are completed, 

enter the smaller of the amounts in each column from line 19 

or line 31. 32 

33 Add the amounts in all preceding columns of line 38. See 

instructions. 33 

34 Adjusted seasonal or annualized income installments. 

Subtract line 33 from line 32. If zero or less, enter -0-. 34 

35 

 

Enter 25% of page 1, line 9b, in each column. Note: “Large 

corporations,” see the instructions for page 1, line 11, for the 

amount to enter. 35 

36 Subtract line 38 of the preceding column from line 37 of the 

preceding column. 36 

37 Add lines 35 and 36. 37 

38 Required installments. Enter the smaller of line 34 or line 37 

here and on page 1, line 11. See instructions. 38 

Form 1120-W (2021)