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

To: k.ramesh who wrote (2492)	12/13/1999 8:51:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

Ramesh, If the taxpayer has good records but choose to ignore paying "as she went" or in 4 equal installments, then she may be subject to the penalty. that is HER choice. Est Taxes on Mutual funds can be paid "as you go" when they DECLARE/PAY the taxable distributions, as long as you pay as you go for all other income too. If she is behind the 8 ball now for 1999, she may retroactively fix things by forcing substantial WITHHOLDING in the next two weeks. Doing so could eliminate the penalty. Alternatively she can pay by December 15th, the 1st, 2nd and 3rd installments. They can all go on any estimated coupon. They can all be paid with one check. All IRS wants to know is the money there by 12/15/99. Doing so could reduce the penalty. Alternatively she can pay by January 15th, the 1st, 2nd, 3rd and 4th installments. They can all go on any estimated coupon. They can all be paid with one check. All IRS wants to know is the money there by 1/15/00. Doing so could reduce the penalty. Colin