Estimated Tax: Minimum Payment

IRS Waives Estimated Tax Penalty

Posted Posted in Latest News

IRS Waives Penalty for Many with Short Witholding or Estimated Tax Payments The Internal Revenue Service (IRS) announced on January 16, 2019 that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS […]

Form 1040 of 1941

The New Postcard Return that Never Was?

Posted Posted in Latest News

Treasury Secretary Steven Mnuchin said that the new promised postcard return will be released this week. The New York Times has reportedly obtained a draft of the new Form 1040 and posted it in their news article on Monday. The current two-page form is condensed into one page by introducing various new schedules that need […]

2017 Form W-4 and Form 673 Due

Expatriates who are employees of U.S. entities should already have filed a Form 673, Statement for Claiming Exemption From Withholding on Foreign Earned Income Eligible for the Exclusion(s) Provided by Section 911, with their U.S. employers to claim an exemption from U.S. income tax withholding on wages earned abroad to the extent of the foreign earned income exclusion and foreign housing […]