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Bxofscidad

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Bxofscidad

Re: rumrunner528 post# 21468

Wednesday, 08/29/2012 8:18:53 PM

Wednesday, August 29, 2012 8:18:53 PM

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Let me preface my statement by revealing that I am a tax attorney, former IRS agent and have been practicing tax law for over 40 years.

To avoid any penalty for under estimating your taxes, you must have at least 110% of the prior year's taxes, paid in in either withholding, and or estimated taxes. If you do, then there is absolutely no penalty for any amount that is under estimated.


Barry
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