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#3
12-30-2005, 08:46 PM
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 Re: overpayment taxes superprimenova[at]gmail.com wrote: - quote - > I accidently wrote an extra 0 and overpaid my state taxes by
You didn't mention the timing, soooo if you overpaid AND> about $4000. This was an estimated payment, it was suppose > to be 400, but I made 4000 to the state of california? Will > i face a penalty by the state or federal government for > overpayment of state estimated taxes? If so how much? took a deduction for the overpayment, then (and only then) would you probably be subject to a penalty. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#2
12-28-2005, 07:59 PM
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| Re: overpayment taxes "123go" <rejecto[at]rejcet.ccc> wrote: - quote - > "David Woods, EA, ChFC, CLU" <dwoods[at]woods-financial.com> wrote:
Agreed - AMT could possibly kick in and create an "inn-kind"> > "superprimenova[at]gmail.com" <superprimenova[at]gmail.com> wrote: > > > I accidently wrote an extra 0 and overpaid my state taxes by > > > about $4000. This was an estimated payment, it was suppose > > > to be 400, but I made 4000 to the state of california? Will > > > i face a penalty by the state or federal government for > > > overpayment of state estimated taxes? If so how much? > > No such thing. > AMT penalty. I don't know of any way to get any state to refund such an overpayment. If you have the ability and the opportunity, you could try to have your withholding reduced, but it may be too late for that too. good luck, Gene E. Utterback, EA, RFC << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#1
12-28-2005, 02:48 AM
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| Re: overpayment taxes "David Woods, EA, ChFC, CLU" <dwoods[at]woods-financial.com> wrote: - quote - > "superprimenova[at]gmail.com" <superprimenova[at]gmail.com> wrote:
AMT> > I accidently wrote an extra 0 and overpaid my state taxes by > > about $4000. This was an estimated payment, it was suppose > > to be 400, but I made 4000 to the state of california? Will > > i face a penalty by the state or federal government for > > overpayment of state estimated taxes? If so how much? > No such thing. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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12-28-2005, 01:59 AM
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| Re: overpayment taxes "superprimenova[at]gmail.com" <superprimenova[at]gmail.com> wrote: - quote - > I accidently wrote an extra 0 and overpaid my state taxes by
No such thing.> about $4000. This was an estimated payment, it was suppose > to be 400, but I made 4000 to the state of california? Will > i face a penalty by the state or federal government for > overpayment of state estimated taxes? If so how much? -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#-1
12-27-2005, 10:49 PM
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| overpayment taxes I accidently wrote an extra 0 and overpaid my state taxes by about $4000. This was an estimated payment, it was suppose to be 400, but I made 4000 to the state of california? Will i face a penalty by the state or federal government for overpayment of state estimated taxes? If so how much? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| overpayment, taxes |
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