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Old 03-04-2007, 12:18 AM
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How do C-corporations pay for its estimated taxes?

Can you please tell me how my corporations pay for it taxes?



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Old 03-06-2007, 03:14 PM
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Regular C-Corporations are required to pay estimated quarterly taxes based on projected tax liability or prior years tax liability (payable over 4 quarters).

For most small corporations, a quarterly tax payment voucher is usually prepared by your CPA and this is the method by which projected tax liabilities are paid quarterly!

When a Corporation tax return is filed, the tax liability if any at the time of filing the return is not paid via a check, but instead a Federal deposit coupon is prepared and appropriate places are marked and a business check accompanies this coupon and it is presented to your bank for payment. In this manner, the IRS immediately debits/collects this tax liability.

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Last edited by TaxGuru : 03-06-2007 at 03:17 PM.


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