Estimated Tax Penalty Threshold Lowered for 2018

Wednesday, 16 January 2019
Tax

taxes with penThe Internal Revenue Service is waiving the penalty for many taxpayers whose withholding and estimated tax payments fell short of what they owed for 2018. The IRS said there is no penalty for those who paid at least 85 percent of their tax liability for the year, down from the previous 90 percent threshold.

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