estimated tax

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Related to estimated tax: estimated tax return
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  • noun

Words related to estimated tax

income tax paid periodically on income that is not subject to withholding taxes

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According to IRS Publication 505, Tax Withholding and Estimated Tax, couples who have filed joint returns in the past and will be fifing separate returns in the current year due to a divorce can divide estimated tax payments in any way they can agree upon.
As a practical matter, taxpayers may pay estimated income taxes more frequently than quarterly, but this is not explicit in the Code and might not be obvious on Form 1040-ES, Estimated Tax for Individuals, or its instructions.
The amount received from the July estimated tax bill will appear as a credit against the actual bill.
And for corporations: The installment due date for 25% of any corporate estimated tax payment otherwise due in September 2003 has been changed to Oct.
In any of the three preceding tax years, the taxpayer must have either made an estimated tax payment or been assessed a penalty for failure to make an estimated tax payment; and
Estimated tax payments - Starting in 2009, estimated tax payments for the first and second quarters increase from 25 to 30 percent.
A taxpayer can elect to have an overpayment refunded or applied to the subsequent year's estimated tax payment.
1, 2010, the estimated tax payment percentages have changed for individuals and corporations.
18 /PRNewswire/ -- At last a new online tool that will help 29 million self-employed individuals with their estimated tax responsibilities.
For tax years beginning in 2009 only, the American Recovery and Reinvestment Act of 2009 (ARRA) reduced the amount of estimated tax that individual taxpayers with income from small businesses must pay.
Affected taxpayers who faced an estimated tax payment date on Sept.
com Reminder Email Notification program will prompt taxpayers when it is time to make their next Federal Installment Agreement or Estimated Tax payment.
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