estimated tax payments

• Reduced 2009 Estimated Income Tax Payments for Individuals with Small Business Income

• FR, March 01, 2010
• Rules
• Internal Revenue Service

• T.D. 9347

D. 9347, under Section 6655, provides guidance with respect to estimated tax payments by corporations.

• United States. Internal Revenue Bulletin
• August 21, 2009

• Avoiding penalties by making timely estimated tax payments.

A corporation that recently converted from C status to S status can avoid penalties for underestimating estimated tax payments by making timely quarterly payments for built-in gain attributable to property held by the corporation while filing as a C corporation. Business credit recapture and taxation of excess net passive income are also subject to estimated tax payments as forms of corporate income tax. S corporations can claim estimated payments of zero if the last year's excess net passive income was zero.

• The Tax Adviser
• Vol. 27 Nbr. 8, August 1996

• Reduced 2009 Estimated Income Tax Payments for Individuals with Small Business Income

• FR, March 01, 2010
• Proposed rules
• Internal Revenue Service

• 26 USC 847 - Sec. 847. Special estimated tax payments

• US Code - Title 26: Internal Revenue Code

• CA developments: estimated tax payments, 1099s and more.

The annual liaison meeting between the FTB and CalCPA Committee on Taxation cleared up a long-standing source of confusion among CPAs. [ILLUSTRATION...

• California CPA
• Vol. 77 Nbr. 7, January 2009

• Estimated tax payments aren't estimates anymore.

Emergency Unemployment Compensation Act of 1991 changes The Emergency Unemployment Compensation Act of 1991 amends Internal Revenue Code section 6654(d)(1)(B) which may affect the tax liability of individuals making quarterly estimated tax payments. The revisions require calculation of the modified adjusted gross income to estimate tax liability. However, if individuals subject to the new laws estimate their tax liability using the old formulas, they may be assessed tax underpayment penalties.

• Journal of Accountancy
• Vol. 173 Nbr. 5, May 1992

• New rules for estimated tax payments.

Estimated tax payments will be accelerated in some cases in order to pay for extended unemployment benefits which were signed into law on Nov 15, 1991. Under the old law, people could compute their current year's estimates based on the prior year's tax even if they knew their current income would be higher. The new deferral will only be applicable to the first estimated tax payment. 'Passthrough' entities, such as sole proprietorships, partnerships and Subchapter S corporations will have to figure out their net income four times a year.

• The Tax Adviser
• Vol. 23 Nbr. 4, April 1992

• 26 CFR 1.6654-5 - Payments of estimated tax.

• Code of Federal Regulations - Title 26: Internal Revenue

• Ftb Launches Tax Season with New Taxpayer Services

The FTB has expanded customer service and created options to make tax filing easier on California taxpayers," [John Chiang] said. "The FTB can help taxpayers complete and file their tax returns, manage their tax information, and get the assistance they need for available credits and quick refunds. "ReadyReturn makes filing taxes as easy as it gets. The state does the work for taxpayers by using information it already has to simply generate the tax return." Chiang said. "Taxpayers have complete control to file the return, change it, or use any other filing method." Those who used the service last year will notice the View Payments and Balance Due application was renamed to My FTB Account. This application now allows taxpayers the ability not only to view their payments and balance due,...

... My FTB Account should be used to verify estimated tax payments since the top taxpayer error is claim...

• La Prensa San Diego
• August 22, 2009