The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Estimated Taxes Date:  8/11/2001  3:12 AM
Author:  irasmilo Number:  53245 of 127753

I thought estimated tax installments/payments were due in April, June, September and in December if one wants to file an itemized return for the current year 2001. Otherwise, the last installment is due in January (if not itemizing deductions for 2001).

There is no difference in payment dates for itemized vs. standard deductions. You don't have to decide which way you're going to prepare your return until you actually do the preparation. (The one exception that I can think of is for people filing "Married filing Separate." In this case, if either spouse itemizes deductions, the other spouse must also itemize deductions even if the standard deduction would be more advantageous.)

You might want to get a copy of Publication 17, Your Federal Income Tax.
It will answer many of your questions.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us