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To: Captain Peter Blood

That is simply false. If you owe more than $1,000 when you prepare your return, the IRS can assess a penalty for failure to pay enough through the year. If you receive income from a source that doesn’t withhold, you are responsible for making quarterly estimated tax payments. Failure to do this might result in assessment of penalties.


15 posted on 04/13/2017 7:19:01 AM PDT by stremba
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To: stremba

Well I never make quarterly payments. Why should I give them any money until it is actually due? That is a scam.
I have an Aunt who takes a IRA distribution and the taxes are paid when due, no withholding and no penalty.

The IRS is a scare organization. Monies for taxes are due when their due. Anything else is merely to coerce you to pay early to keep the government going.


19 posted on 04/13/2017 7:33:57 AM PDT by Captain Peter Blood
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