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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: xbrent who wrote (436)	7/21/1998 9:44:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 1383

If you have a great 1st quarter the onus is completely ON YOU to decide. Decide wrong and the I.R.S. and your State will hit you with a penalty for underpayment of estimated taxes based on the lower of this year's or last year's taxes. . You either need to pay last year's tax in 4 equal installments, OR you can annualize and pay in roughly "quarterly" based on how you've done OR you can pay in this year's tax in four equal installments. . Withholding tax form most any source is considered to have been paid in 4 equal installments. . Colin