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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?


To: Stewart Whitman who wrote (2491)12/14/1999 3:19:00 PM
From: RoseCampion  Respond to of 5810
 
If you have unequal quarterly income, there's some form you can fill as part of your tax return to avoid (or decrease) penalties for not making equal quarterly payments. Don't recall which form it is

Form 2210.

but I've had to fill it out once - it's pretty painful though

About the most painful non-corporate form I've ever filled out, and believe me, I've seen lots of 'em. <g> It truly can make your estimated tax penalty disappear, though, so unfortunately it's worth the time and trouble.

essentially doing a mini-tax return per quarter, ergo good record-keeping.

Exactly. If you have need of this form, run - don't walk - to the nearest store to buy TurboTax or the like, which reduces the pain of filling it out by at least 50%, well worth the money.

-Rose-