The third-quarter estimated tax deadline for 2023 is Sept. 15. Here are some tips to avoid a surprise tax bill next April.
and staying on top of your finances," said Sean Lovison, a Philadelphia-area certified financial planner with WJL Financial Advisors. He is also a certified public accountant.
It's important to calculate tax payments accurately, pay on time and to consider meeting the"safe harbor" rule to avoid underpayment penalties, Lovison said."Keep records, monitor your tax situation, and seek professional guidance for a smooth tax experience," he said.for not staying current, said CFP Kathleen Kenealy, founder of Katapult Financial Planning in Woburn, Massachusetts., June 15, Sept. 15 or Jan. 16, 2024 — you'll incur a late penalty of 0.
However, the IRS has a"safe harbor" to avoid underpayment penalties, Kenealy explained. You meet the requirements by paying at least 90% of the current year's tax liability or 100% of last year's taxes, whichever is smaller. But the rule is"a little different for high-income taxpayers," she said. If your 2022 adjusted gross income was $150,000 or more, you need to pay the lower of 90% of the current year's tax liability or 110% of last year's taxes to meet the safe harbor requirement for 2023. Electronic payments are the"easiest, fastest and most secure" option for estimated tax payments, according to the IRS.
Online options include payments through your online account, via Direct Pay, the Electronic Federal Tax Payment System and more. However, you'll incur a fee for debit and credit card payments. You can learn more about how to make payments
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Photos: Crowds at LA Union Station eye trains of yesteryear, model railroads, artworkLos Angeles Union Station Train Festival drew crowds on Sat, Sept. 9 and Sunday, Sept. 10.
Baca lebih lajut »
More than $2M raised for Northeast Ohio children battling life-threatening illnessesThe event began Saturday, Sept. 9 and finished Sunday, Sept. 10.
Baca lebih lajut »
US I.R.S. to use AI to deal with tax evasion and crimesAs it looks for ways to effectively monitor the wealthiest Americans, the US Internal Revenue Service (I.R.S.) has begun employing artificial intelligence (AI) to tackle tax evasion at multibillion-dollar partnerships.
Baca lebih lajut »
IRS announces new plan to target millionaire tax cheatersThe federal agency said it plans to aggressively hunt down 1,600 millionaires and 75 large business partnerships that routinely “cut corners” on their taxes.
Baca lebih lajut »
Football photos: No. 5 Don Bosco Prep vs. No. 2 St. Joseph (Mont.), Sept. 9, 2023St. Joe's hosts Don Bosco Prep in a meeting between two of the most storied football programs in the state
Baca lebih lajut »
Sunday, Sept. 10 is World Suicide Prevention DayThe day’s recognition is a chance to share hope and highlight the ways and resources to preventing suicide deaths, which were at the highest number ever last year in the U.S.
Baca lebih lajut »