estimated taxes
For the last 2 years I’ve had had to pay quartly estimated federal tax n my personal return. Why is this, cant i just square up with them when i file my taxes in April. It seems if you owe over $1000.00 they want quarterly payments. Is this something new? Thanks
Terry Says
Nope. Not new. You are generally required to pay estimated taxes if you expect to owe at least $1,000 in tax for the year after considering your withholding and refundable credits. This applies to individuals, including sole proprietors, partners, and S corporation shareholders.
