Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Can someone help. I have never payed estimated taxes, the quarterly payment. I always avoided penalties and interest because I always paid at least 110% of prior years liability. Chalk it up to the good times. This year, due to deferred compenstaion and unusual capital gains due to the stock market, I will have underpaid my 99 liability by a substantial amount.
Is this grounds for penalty? I did not intend to take profits in the market, and did so late in the year, so I could not have forseen that event. Nor was I familiar with a new policy of deferred comp at work.

I need an opinion!

Regards, CC
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.