estimated tax


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Related to estimated tax: estimated tax return
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.estimated tax - income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability
income tax - a personal tax levied on annual income
References in periodicals archive ?
When a couple have filed joint returns in the past and file separate returns in the current year due to a divorce, estimated tax payments for the current year are typically credited to the first person listed on the previous year's joint tax return.
In tax practice, CPAs occasionally encounter self-employed clients who have difficulty keeping up with their quarterly estimated tax payments.
To find out if you are subject to federal estimated tax payments, or to learn more about making federal estimated tax payments, please contact the Internal Revenue Service at 1-800-829-1040 or visit the IRS website at www.
To find out if you are subject to estimated tax payments or to learn more about making estimated tax payments, please contact the Internal Revenue Service at 1-800-829-1040 or visit the IRS website at www.
If the LLC has elected to be taxed as a corporation, it will follow California corporation filing guidelines and estimated tax requirements, and will be subject to the minimum franchise tax.
The first bill is an estimated tax bill based on the previous year's bill.
For firms with at least $1 billion in assets, estimated tax due in July, August or September 2006 is increased to 105 percent of the otherwise required amount, with the next payment similarly reduced.
Hegt said that the Alternative Minimum Tax should be eliminated; that a more objective test needs to be implemented to determine whether workers are classified as employees or independent contractors; that objective, administrable tests relating to the capitalization, expensing and recovery of capitalized costs need to be developed; that capital gains rules need to be simplified; and that estimated tax safe harbors should be rationalized.
5 million in estimated tax revenues - a conservative estimate, according to an internal audit conducted by the city.
Also, for many taxpayers who claimed the Chin lax Credit last year, the Treasury mailed checks as an advance payment of the credit's increase, The new tax law also lowered the tax rates for long term capital gains and qualifying dividends, allowing taxpayers to reduce their estimated tax payments for the year following May 2003.
Increase Withholding To Avoid The Imposition Of An Underpayment Penalty: Individuals who have underpaid an estimated tax installment are subject to a nondeductible penalty.
In November 1991, Congress repealed the estimated tax safe harbor for certain individuals and small businesses.

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