“Ouch! The Estimated Tax Penalty Is at
a 16-Year High!”
To get my complete, FREE article
with all the details…
Here’s a fact you sure better know…
In our tax system, payments for income tax must be made to the IRS throughout the year as income is earned.
IMPORTANT: Individuals and corporations that underpay their taxes during the year are assessed extremely painful estimated tax penalties by the IRS.
As recently as 2022, the penalty was only 3%.
But with the rapid rise in interest rates, the penalty has also risen. The estimated tax penalty is a whopping 8% from October 1, 2023, through March 31, 2024—the highest it has been since 2007!
Now the estimated tax penalty
is at a 16-year high!
You should also know that the penalty is not deductible, so your effective penalty rate is much higher than the 8%!
In my new article, learn:
- How, in detail, the estimated tax penalty works
- How individuals can avoid the dreaded underpayment penalty
- Exactly how much you need to pay to avoid penalties
- Estimated Taxes for Corporations
And much more…
So here’s the bottom line.
Don’t wait and wind up in trouble with Uncle Sam. Start off on the right track right now and…
CLICK HERE to read my completely new article titled:
“Ouch! The Estimated Tax Penalty Is at
a 16-Year High!”