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MeeshkaMich
LL=Yum
Member since 2/06 5616 total posts
Name:
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Any accountants here? income tax related
I can't get a hold of my accountant the last few days.
Everything is ready to be mailed, and I owe money so check is ready. Usually she always had everything preped for me incl. the envelopes for mailing, but I noticed this time in addition there are these tax estimated payment vouchers
says due dates april 16, june 15, sept. 17, and jan. 15.
there are 4 of them and when added up they total a dollar less than what i owe.
my question is what are these vouchers am i supposed to mail them? Are they just if I want to do a payment breakdown of what I owe?
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Posted 4/10/07 9:50 AM  |
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BriBri2u
L'amore vince sempre
Member since 5/05 9320 total posts
Name:
Mrs. B
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Re: Any accountants here? income tax related
Ususally people pay estimates throughout the year to avoid having to pay a large sum the following year. It is like covering yourself from having to come up with a large amount at once.
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| Posted 4/10/07 9:55 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Any accountants here? income tax related
The estimated tax vouchers are for paying your 2007 taxes in addition to what you owe with your 2006 return.
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| Posted 4/10/07 9:57 AM |
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Re: Any accountants here? income tax related
The estimates are for you taxes for next year. It's so you don't owe as much. Write the check out for the amount due on the vachour for each period and mail it when it is due. If the address is the same as to where you mailing your return then just staple the check and vachour together but make sure to make a copy of both. That is very important. Also it is very important to write in the memo section the SS#, form # on the vachour and 2007 for that tax year.
Hope that helps.
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| Posted 4/10/07 9:59 AM |
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MeeshkaMich
LL=Yum
Member since 2/06 5616 total posts
Name:
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Re: Any accountants here? income tax related
ok i'm a little confused. The vouchers are for next year, these are estimates of what I "might" owe for 2007?
Do I have to make these payments though, or I can pay at the end again? I only ask because the reason I owe is because my tuition cost used was added to my salary since I get free tuition but I'm taxed on it. I won't have as many classes this year though since I'm almost done, so I shouldn't have to owe for 2007.
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| Posted 4/10/07 10:03 AM |
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Michelle
My Little Yankee Fans
Member since 1/06 4018 total posts
Name:
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Re: Any accountants here? income tax related
The govt will give you a penalty if you pay all at the end of the year. They want their money quarterly so making those payments will ensure you of not getting a penalty.
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| Posted 4/10/07 10:10 AM |
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MeeshkaMich
LL=Yum
Member since 2/06 5616 total posts
Name:
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Re: Any accountants here? income tax related
Posted by Michelle
The govt will give you a penalty if you pay all at the end of the year. They want their money quarterly so making those payments will ensure you of not getting a penalty.
penalty really? Was that added in already to what I currently owe? Or will this be separate?
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| Posted 4/10/07 10:29 AM |
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