Timeline for Excess estimated taxes
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Apr 27, 2018 at 11:37 | comment | added | dave_thompson_085 | @Aganju: very rarely. If you need estimated payments at all you must normally pay one quarter each Apr 15, June 15, Sep 15, and Jan 15 (Jan 31 only if you file and pay all tax owed). You can backload the payments only if you prove on 2210-AI that for each 'quarter' you paid 90% of the tax on your income through that quarter projected to the full year, so you can pay all in Jan only if all your income is in the last 4 months of the year -- which only happens for some seasonal businesses. OTOH withholding anytime during the year (up to Dec. 31) is counted as even throughout the year. | |
| Apr 27, 2018 at 2:10 | comment | added | Bob Baerker | There can't be a penalty if nothing was owed. | |
| Apr 27, 2018 at 1:38 | comment | added | arcyqwerty | Is there a penalty for late ES payments if none were required to begin with? (part 2 above). Basically, can paying ES taxes, even if late, bite me? | |
| Apr 26, 2018 at 15:33 | comment | added | Aganju | and you can fulfill this minimum obligation by paying enough in the fourth quarter, which in practice means before Jan/31 (of the next year). | |
| Apr 26, 2018 at 10:51 | history | answered | Bob Baerker | CC BY-SA 3.0 |