TaxAudit Blog

Tag: estimated tax

Virginia and Pay Tax buttons on a keyboard

Taxpayers who file a Virginia tax return and expect to owe $150 or more over any taxes already withheld might need to file estimated tax payments.

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Michigan flag on pile of money

Regardless of whether they are a Michigan resident, taxpayers who expect to owe more than $500 when they file their MI-1040, must make estimated tax payments.

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Illinois Pay Tax written on a keyboard

In Illinois you may not be subject to the penalty if you pay at least 90% of this year's tax or 100% of last year's tax in four equal timely installments.

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New Jersey flag over cash

If you estimate that you will owe more than $400 in New Jersey income tax at the end of the year, you are required to make estimated payments.

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Pennsylvania Flag on a pile of money

The PA Dept of Revenue expects you to make PA Estimated Tax payments if you make more than $9,500 of taxable income that has not had taxes withheld from it.

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Estimated Tax Payments

If you happen to miss one of your quarterly estimated tax payments, all is not lost. As soon as you remember, go ahead and make the quarterly payment late.

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Woman opening a letter

An IRS Notice CP45 is a letter the IRS sends to notify you that your request to apply your overpayment to your next year’s estimated taxes cannot be granted.

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California License plate that says EST TAX

Much like the IRS, California’s taxing agency, the California Franchise Tax Board (or CA-FTB), expects to collect your owed taxes throughout the tax year.

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New York State EST TAX License Plate

Similar to the IRS, New York’s taxing agency, the New York State Department of Tax and Finance, expects to collect your owed taxes throughout the tax year.

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Handcuffs laying on a 1040 form

IRS Notice CP10 is issued when the IRS believes there was a miscalculation on your tax return. This results in changes that affect your estimated tax payments.

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Estimated Taxes

Estimated tax payments are additional payments that taxpayers may make on a quarterly basis to cover any additional taxes that may be due.

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Notary

I am a mobile notary Signing Agent. When doing quarterly payments, would I claim pay on the month I do appt. or when I get paid?

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Tax Debt Relief

Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options.

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