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almostheaven
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Reged: 07/13/04
Posts: 10468
Loc: West Virginia
Re: Yeah,
      04/08/05 08:22 AM

Over explains it well below. Do you end up owing tax at the end of the year or get a refund? If you get a refund, no problems, but if you owe, and you didn't file quarterly statements on it, they charge you a penalty. It gets added to the amount you owe. Whomever is doing your taxes may not point this out to you and just tell you that you owe X amount. But that amount is increased by a penalty the IRS tacks on if you owed them and didn't file quarterly. They want their interest for you holding it for the year IOW.

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Char Fox

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Entire topic
Subject Posted by Posted on
* April 15th Alimony and Estimated Tax Payments overtherainbow 04/06/05 02:01 PM
. * * I don't do this Melody   04/07/05 12:33 AM
. * * Do you... almostheaven   04/07/05 07:52 AM
. * * Yeah, Melody   04/08/05 01:39 AM
. * * Re: Yeah, almostheaven   04/08/05 08:22 AM
. * * Whew....yeah that's what happens for me Melody   04/08/05 02:12 PM
. * * Re: Whew....yeah that's what happens for me aussie928   04/08/05 07:51 PM
. * * Re: Whew....yeah that's what happens for me overtherainbow   04/08/05 08:33 PM
. * * Re: Whew....yeah that's what happens for me aussie928   04/08/05 09:43 PM
. * * Thanks, aussie Melody   04/09/05 01:00 AM
. * * Re: Thanks, aussie overtherainbow   04/10/05 12:02 PM
. * * Re: Whew....yeah that's what happens for me almostheaven   04/08/05 03:12 PM
. * * Re: Whew....yeah that's what happens for me overtherainbow   04/08/05 04:33 PM
. * * Re: Do you... overtherainbow   04/08/05 12:23 AM

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