Wednesday, April 10, 2013

Avoid Late Payment Penalty When Filing Your Federal Income Taxes!!

JC Leahy
MA Accounting
twiter@taxhelpwhenneed

Generally, if you owe less than $1000 of Federal income tax after subtracting payments and credits you will not owe a penalty when you file your return. You will also not owe a penalty if your payments equals 100% (110% for your rich people) of last year's total tax liability OR 90% of the current year's total tax.


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