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To: Getsmart64
there is a penalty if you owe Uncle Sam to much money at the end of the year....

Yes, there is. And I'm not sure what "too much" is,
but if you got a refund last year, you can pretty easily calculate a "safe" number that will put you near even.

65 posted on 02/17/2009 9:13:49 AM PST by MrB (The 0bamanation: Marxism, Infanticide, Appeasement, Depression, Thuggery, and Censorship)
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To: MrB

From what I know, you must have paid 90% of your expected tax by January 15th of the year following the tax year. It is not clear that you cannot pay 90% of your expected tax on that date. This may be what the other poster is referring to by suggesting you save the money rather than letting the government hold it. It’s your call.


152 posted on 02/17/2009 12:47:39 PM PST by BelegStrongbow (The 'Stimulus' is a three-fold sin and every fold in it is mortal.)
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