Comments on: IRS Safe Harbor Income Tax Underpayment Rule http://www.bargaineering.com/articles/irs-safe-harbor-income-tax-underpayment-rule.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 02:01:03 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Peter http://www.bargaineering.com/articles/irs-safe-harbor-income-tax-underpayment-rule.html/comment-page-1#comment-301790 Peter Mon, 13 Apr 2009 15:36:31 +0000 http://www.bargaineering.com/articles/?p=4410#comment-301790 This is my second year as a blogger, and I really didn't make enough last year to have to make estimated tax payments. Even after blog income my regular job's withholdings were enough that we still ended up getting a refund for federal ($600), and a small tax bill ($200) for state. Question is, I expect to make a lot more this year, but have never done the estimated quarterly tax payments. Do I have to do those this year, or would I fall under the safe harbor rule, and be able to pay all taxes when I file next year? If I did that,would I have penalties? This is my second year as a blogger, and I really didn’t make enough last year to have to make estimated tax payments. Even after blog income my regular job’s withholdings were enough that we still ended up getting a refund for federal ($600), and a small tax bill ($200) for state.

Question is, I expect to make a lot more this year, but have never done the estimated quarterly tax payments. Do I have to do those this year, or would I fall under the safe harbor rule, and be able to pay all taxes when I file next year? If I did that,would I have penalties?

]]> By: thomas http://www.bargaineering.com/articles/irs-safe-harbor-income-tax-underpayment-rule.html/comment-page-1#comment-300482 thomas Sun, 22 Mar 2009 18:47:55 +0000 http://www.bargaineering.com/articles/?p=4410#comment-300482 I've owed the past few years and somehow have avoided this BS penalty. I make no dependent claims (0 for the house) so I feel I'm getting taxed as much as I should. No way in hell I'm going to give them "voluntary" tax money. Bring on the fairtax! I’ve owed the past few years and somehow have avoided this BS penalty. I make no dependent claims (0 for the house) so I feel I’m getting taxed as much as I should. No way in hell I’m going to give them “voluntary” tax money.

Bring on the fairtax!

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