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Financial Planning / Tax Strategies


Subject:  Re: Estimated tax for gains Date:  12/3/2013  8:26 PM
Author:  ptheland Number:  119622 of 123001

So should he just get a quarterly form and mail the IRS a check? Or will he not get a penalty since all previous years resulted in a refund?

One exception to the underpayment penalty is having withholding that is at least 100% (110% for higher incomes) of your prior year tax. If he meets that exception, he can pay an unlimited amount of taxes on April 15 with no pena