Why might a taxpayer choose to use the IRS Form 1040-ES?

A taxpayer may choose to use IRS Form 1040-ES specifically to calculate and pay estimated tax payments. This form is essential for individuals who expect to owe tax of $1,000 or more when their return is filed and who do not have enough tax withheld from their income.

By using Form 1040-ES, taxpayers can determine their estimated tax liability based on their expected income, deductions, and credits for the year. This enables them to make quarterly payments throughout the year, ensuring that they meet their tax obligations and avoid potential penalties for underpayment.

The other options relate to different tax processes. Filing an annual tax return is done with Form 1040, not the 1040-ES. Requesting a tax refund would typically occur after the annual return is filed and is unrelated to estimated payments. Lastly, applying for an extension involves different forms, such as Form 4868, rather than the 1040-ES, which focuses solely on estimated tax payments.