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Question
If I choose to skip one ore more quarterly estimated tax payments, is the only penalty the interest on the late payment amounts of about 4% annualized?
AI accountant’s answer:
The rate varies, but yes the penalty is basically an interest charge on the outstanding amount owed.
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Answer
The rate varies, but yes the penalty is basically an interest charge on the outstanding amount owed.
No answer given yet!
Melissa Pedigo, CPA
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