Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

Watch Out for Surging IRS Estimated Tax Penalties

Every quarter I send a reminder email about estimated taxes. Although you may have withholding on your paycheck, the withholding may not be sufficient to avoid a penalty for underpayment of estimated tax.

 

The Wall Street Journal wrote an article about a recent quadrupling of estimated-tax penalties due to higher interest rates and ways to avoid them.

 For my comments in the Wall Street Journal see

https://www.wsj.com/personal-finance/taxes/quarterly-taxes-penalty-rate-59139fca?st=zxfext4s8rkoqcs&reflink=desktopwebshare_permalink

Richard Pon CPA, CFP