Sentence examples for avoid an underpayment from inspiring English sources

Samuel and Felicity have not but have paid enough to avoid an underpayment penalty.

That shows good planning: they have paid enough to avoid an underpayment penalty but not enough to get a refund.

That shows good planning: the Taxpayers paid in enough to avoid an underpayment penalty but are not getting a refund.

Samuel's employer withheld $12,000 in federal taxes from his pay (Line 57), and the couple paid $2,000 in quarterly estimated taxes to avoid an underpayment penalty because of their other income.

Now is the time to: –Ensure your tax withholdings and/or estimated tax payments are current to avoid any underpayment penalties.

Those individual taxpayers who want to play it safe and avoid possible underpayment penalties come next April 15 should make sure their 2010 estimated tax payments and/or income tax withholding equal at least 100% or 110% of their 2009 income tax liability.

Form 1040-ES: EsTaxesed Taxes People who have substantial income that is not subject to withholding, like self-employment or investment income, need to make quarterly estimated tax payments to avoid underpayment penalties in April 2002.

Typically, through withholding and quarterly payments, individual taxpayers must pay 100% (or in a few states 110%) of the prior year's tax owed or 90% of the current year's liability to avoid underpayment penalties.

All your earnings are subject to the 2.9% Medicare tax. ) There might also be the need for quarterly payment of estimated taxes too, to avoid estimated tax underpayment penalties.

If you are forced to file an extension (due to not having all your information organized) you must send a check with the extension (less what you withheld or paid in through estimated quarterly taxes that year) equal to 100% of your total tax liability to avoid underpayment of tax penalty.

A study of transactions found that 10percentt included errors ranging from an underpayment of $29 to an overpayment of $39.