Estimated tax payments required? Hello,
My husband and I filed jointly on our tax return. We have about $7K from self-employment and regular salaries from our regular jobs. We also sold our rental property and have a capital gain/profit from the sale of our property. We did not make our 2016 quarterly tax payments to the IRS but we've had our employers deducted our withholding taxes more than usual. Question: do we still need to make a tax payment (via Direct Payment or the IRS website) to the IRS before 12/31/16 Or is it too late by now? Please note when we do not have prior year's tax liability.
Thanks much.
Sup |