Tax Trails - Do You have to Pay Estimated Tax? |
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Do you expect your income tax withholding and credits for the current year to be at least 100% * of the tax shown on your prior year tax return?
Note: Your prior year return must have covered a 12-month period.
* 110% if less than two-thirds of your gross income for the current and prior year is from farming or fishing and your prior year adjusted gross income was more than $150,000 ($75,000 if your filing status for the prior year is married filing a separate return).
Yes No
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Page Last Reviewed or Updated: December 08, 2008