Today TaxMama hears from Teresa in Tennessee who blundered “I need to start paying estimated taxes; but it is too late to make the 1st quarter payment for this year. Can I start with the 2nd quarter?”
Today TaxMama wants to talk to you about those quarterly estimated tax payments. Since that’s the most popular page being accessed this weekend, perhaps this is a good time to explain how they work and when they are due, don’t you think?
Today Jay from Tampa, FL says, “In October, I won $125k as a contestant on “Who wants to be a Millionaire”. In Jan, I sent an Estimated tax payment to cover the tax on the additional income. Now I’ve been notified by the IRS that I’m being assessed a penalty because I did not make […]