Estimated Tax

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Estimated tax

Tax to be paid quarterly on income that is not subject to withholding tax, including self-employed income, investment income, alimony, rent, and capital gains.

Estimated Tax

Taxes paid to the IRS on a quarterly basis on all income not subject to withholding. Estimated taxes most prominently affect self-employed persons, but they must also be paid on alimony, rents, and capital gains. Persons who file estimated taxes must also file 1040 forms and, if necessary, pay any taxes they may have underpaid on their estimated taxes.

estimated tax

The estimated tax liability on income that is not subject to withholding. Individuals with even moderate investment income are generally expected to file a declaration of estimated tax and to pay quarterly installments on the estimated tax liability.

Estimated Tax

The amount of tax a taxpayer expects to owe for the year after subtracting expected amounts withheld and the amount of any expected credits.

References in periodicals archive ?

Safe harbors for corporate estimated taxes or R&D expenditures would make the law simpler, he stated.

Tax Executives Institute--U.S. Department of the Treasury Liaison Meeting Minutes

The new rules make the preparation of estimated taxes a two-step process.

Estimated tax changes: projections for 1992-1996

Corporate income and corporate estimated taxes under Regs.

IRS expands use of electronic payments, discontinues paper coupons

Estimated taxes. We prepare estimated taxes and give the client payment forms for all four quarters.

Tax season defanged: year-round attention to your tax preparation practice makes busy season easier

Do your clients know whether or not they have paid their estimated taxes?

Estimating certainty: Property Taxes, Corporate dissolution and more

If estimated taxes are overpaid, the taxpayer has made an interest-free loan to the government.

Estimated Tax Payment Basics

Current law effectively requires large corporations to overpay their estimated taxes, without the benefit of interest, or in order to avoid an underpayment penalty under section 6655 of the Code.

President Clinton's proposals for public investment and deficit reduction

This is usually done for clients with lower income than the previous year who do not (and should not) want to pay estimated taxes based on the protective prior-year tax.

Complete pre-year-end planning for select clients

Occasionally we list multiple extra items--such as financial planning, a yearend tax planning meeting, additional services in connection with the sale of rental property, researching cost basis of mutual funds sold, calculation of S corporation basis, preparation of the next year's estimated taxes, prior years' income annualization for estimated tax penalty reduction, alternative minimum tax credit calculation or any of a few dozen other items.

The quicker you bill, the quicker you're paid

The provision provides that no penalties will be assessed for underpayment of estimated taxes owed prior to April 15, 2003, if the underpayment is due to this change in the law.

And now the detail: a closer look at California's Partial Tax Conformity

* Safe harbor rule for underpayment of estimated taxes

Comments on IRS's 1993 Business Plan

The Service accepted the checks and categorized them as payment of estimated taxes on the estate.