Welcome Guest. Register Now!  



Find a tax professional cpa near you

View Single Post
  #2 (permalink)  
Old 03-03-2008, 01:40 PM
TaxGuru's Avatar
TaxGuru TaxGuru is offline
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 1,864
Blog Entries: 3
Yes, you can pay the balance of the taxes on January 15th 2008, or you could pay the balance of your tax liability on April 15, 2008. The important thing to remember is that you should try and avoid the underpayment penalties and interest.

Always try and pay at least 110% of prior years tax liability to avoid the underpayment penalty and interest. You may accomplish this by increasing your withholding or paying estimated tax payments during the year!
__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.
Reply With Quote
 
Follow us on Twitter
» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 
Forum for CPAs
 
Financial Planning