Estimated taxes for 2022: What they are, who needs to pay them, and when they're due


Estimated taxes for 2022: What they are, who needs to pay them, and when they're due

Recent highlights:

1. You may be charged a penalty if: You forgot to pay estimated taxes or your payment was for less than 90% of the tax amount owedIn some cases, you overpaidIf you want to delve further into estimated tax penalties and conditions of a waiver, see the instructions in IRS form 2210.

2. Essentially, estimated tax allows you to prepay a portion of your income tax every few months to avoid paying a lump sum on Tax Day. 

3. However, if your state does levy income taxes, you will make estimated tax payments using the same deadlines for federal taxes

#biyro #taxseason #fortlauderdale #miami #accountant

More: https://biyro.com/blog/freelance/estimated-taxes-for-2022-what-they-are-who-needs-to-pay-them-and-when-theyre-due/

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