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Author: jaloti One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: skipping last estimated tax payment Date: 1/14/2006 4:42 PM
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I've been unable to explicity find this answer anywhere.

Here's our situation.

Married couple, two incomes, husband has witholding from a salary, wife is self-employed. Estimated quarterly taxes payments made for wife's income, which is pretty steady and predictable. Three equal and on time payments of approxiamtely $3200 each have been made so far.

Now that's its all said and done, its pretty clear I goofed the estimated payments--my first couple run throughs with Turbo tax show that the IRS will owe us about $7000 even without the 4th payment being made.

Sooooo . . . . can we skip the fourth payment? I found something about skipping the fourth payment if return is filed and everything owed is payed by January 31, but we owe nothing more, and its unlikely I'll be able to file by the 31st, since I usually don't get all the forms from MLPs, etc by then.

Thoughts?
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