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re: Steps for paying uncle sam in advance of tax return filing
Posted on 3/26/24 at 1:14 pm to notsince98
Posted on 3/26/24 at 1:14 pm to notsince98
I believe it’s 110% of last year’s tax liability if your adjusted gross income is projected to be $150,000 or more. I think you are required to pay 25% of that number quarterly. There may be special rules for those on commissions or incentive plans, but I’m not sure. Contact a CPA to be safe and avoid a penalty.
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