"LoTax" wrote:

- quote -

Because, unlike withholding, ES payment are direct payments by the taxpayer
and are treated as payments, not a credit, on the return.

Overpayments are defined in section 6401, IIRC. I don't know that there is
a general definition of "payment" in the Code, but if there is it's probably
lurking down in the neighborhood of general definitions (7701?).

--
Phil Marti
Clarksburg, MD

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How come the IRC doesn't make any sense?

Here's what I'm chewing on: There's a code section that provides a
credit for a taxpayer's income tax withheld from salary, wages, and
some other things. I think - can't look right now - that it's IRC
section 31. Or at least near there, along with other "refundable
credits.".

How come there's no corresponding section that allows a credit for
estimated taxes paid by the taxpayer?

Is this a stupid question, or am I a monkey's uncle? Don't answer
that question, just answer the question about the IRC...

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >