Quote:
Originally Posted by DaleDe
However the government is on to your trick. They want their money during the year and require estimated payments every quarter if you actually do this to the extent you could actually make money on it, i.e. will owe them an appreciable amount at the end of the year.
Dale
|
I have been fined for overpaying and for underpaying. After several years of getting smacked with an "underpayment penalty," I had one employer withold about everything I made, thinking that I'd skip the penalty and have a nice little savings deposit after the first of the year. Got my taxes back from the CPA and -- overpayment penalty.
I guess it's a tribute to the terror tactics of the IRS that I actually filed again the next year.
