Last year my self-employment income was $300k and I paid about $80k in federal taxes. This year, in the first quarter, all of my business dried up and I had $0 in income. Turbo tax was advising me ...
IRS Topic 301 states You will owe interest on any past-due tax and you may be subject to a late-payment penalty if the payment of tax is not made by the original due date of your return. The ...
Form 1040 line 79 is for "estimated tax penalty", but my understanding is that this is for 'penalty for not paying estimated tax', not 'the estimated amount for all tax penalties'. If this is the case,...
Early non-exempt withdrawal from a Roth-IRA results in a "10% penalty". A 10% penalty on what amount: The amount withdrawn? The remaining balance of the Roth IRA? Both? Insight appreciated
My total tax payable is 60803 for the financial year 2012-2013. But, TDS deducted till 31st 2013 is 50822, so I have to pay the tax due of 9981. What is the exact amount I have to pay? Is there ...