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#6
02-23-2006, 11:38 PM
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 Re: estimated tax penalty - quote - > > > If your tax is less than $1,000 you owe no penalty. Don't
You're right; I missed that his total tax was low (I was> > > even bother with form 2210 > > Couldn't there still be underpayment of the early estimated > > tax amounts? > If total tax on the return minus withholding credits is less > than $1,000, no estimated tax payments are required. See > Publication 505. thinking it was his tax bill). Seth << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#5
02-23-2006, 07:08 AM
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| Re: estimated tax penalty - quote - > > If your tax is less than $1,000 you owe no penalty. Don't
Not in this case.> > even bother with form 2210 > Couldn't there still be underpayment of the early estimated > tax amounts? ChEAr$, Harlan Lunsford, EA n LA Wed 22 Feb 2006 [at] hh << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#4
02-23-2006, 07:08 AM
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| Re: estimated tax penalty "Seth Breidbart" <sethb[at]panix.com> wrote: - quote - > > If your tax is less than $1,000 you owe no penalty. Don't
If total tax on the return minus withholding credits is less> > even bother with form 2210 > Couldn't there still be underpayment of the early estimated > tax amounts? than $1,000, no estimated tax payments are required. See Publication 505. -- Phil Marti Clarksburg, MD << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#3
02-22-2006, 02:24 PM
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| Re: estimated tax penalty - quote - > > If your tax is less than $1,000 you owe no penalty. Don't
If total tax on the return minus withholding credits is less> > even bother with form 2210 > Couldn't there still be underpayment of the early estimated > tax amounts? than $1,000, no estimated tax payments are required. See Publication 505. -- Phil Marti Clarksburg, MD << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#2
02-22-2006, 11:53 AM
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| Re: estimated tax penalty wrote: - quote - > If your tax is less than $1,000 you owe no penalty. Don't
Couldn't there still be underpayment of the early estimated> even bother with form 2210 tax amounts? Seth << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#1
02-19-2006, 10:48 AM
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| Re: estimated tax penalty If your tax is less than $1,000 you owe no penalty. Don't even bother with form 2210 << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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02-19-2006, 10:29 AM
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| Re: estimated tax penalty bay.of.arizona[at]gmail.com (guy=A0from=A0there) wrote: - quote - > I had zero withholding for the year 2005. My
There should be no penalty if the total tax due is under> tax for 2005 is 431 (line 57). Since it was less > than 1,000 (I used form 2210 to figure that > out), I shouldnt be penalized, right? I filed > online and the site I was using said I owed a > penalty. That is not correct, is it? $1,000. So _Yes, you are correct and there should not be a penalty. But you said you "filed online" -- did you mean you "tried to" or "started to"? Bill << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
02-18-2006, 01:16 PM
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| estimated tax penalty I had zero withholding for the year 2005. My tax for 2005 is 431 (line 57). Since it was less than 1,000 (I used form 2210 to figure that out), I shouldnt be penalized, right? I filed online and the site I was using said I owed a penalty. That is not correct, is it? << ================================================== ===== > << 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 (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| estimated, penalty, tax |
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