GEORGE_LYNCH
-
Total Posts
:
1866
-
Reward points
:
127
- Joined: 5/10/2004
- Location: NEPA
-
Status: offline
|
Tax penalty.
-
Tuesday, November 14, 2006 9:20 PM
I paid my local income tax in full CASH. I just got a letter in the mail saying that "because i did not make quartly payments i have to pay 16.45." So i am getting a penalty for paying the whole tax for the year in cash? 16.45 IS NOT A BIG DEAL, but im just a little confused as to why they are trying to sqeeze more money out of me. I made the initial payment on time. According to the tax office, because i paid in full , and not every few months, i automaticly get a penalty. I have never heard of such a thing. Frank.....ever hear of this???
|
|
CJKSRR
-
Total Posts
:
4950
-
Reward points
:
133
- Joined: 7/24/2003
-
Status: offline
|
RE: Tax penalty.
-
Tuesday, November 14, 2006 10:40 PM
technically suppose to be paying it quarterly and they can assess penalties if they want to. I've never had a problem but guess depends on what they check. To avoid any penalty pay it upfront or just pay some quarterly
|
|
GEORGE_LYNCH
-
Total Posts
:
1866
-
Reward points
:
127
- Joined: 5/10/2004
- Location: NEPA
-
Status: offline
|
RE: Tax penalty.
-
Tuesday, November 14, 2006 10:56 PM
I would pay upfront, but the problem is, i dont know what ill make at the end of the year, because my salary is different every year, overtime, pay raise...etc.....so i pay at the end of the year , this way i know exactly what ive made for the year, and what i owe. I guess ill just be stuck paying the 16 bucks at ther end of every year. No biggie.
|
|
Frankg
-
Total Posts
:
10094
-
Reward points
:
134
- Joined: 7/19/2004
- Location: West End Pennsylvania
-
Status: offline
|
RE: Tax penalty.
-
Wednesday, November 15, 2006 5:34 AM
pa requires estimated payments - they have been cracking down on this for the last couple of years. George quarterly payments are due by the 15th of the month following the end of a calendar quarter. so for Jan - Mar, it would be Apr 15 Apr - Jun, it would be Jul 15 Jul - Sep, it would be Oct 15 Oct - Dec, it would be Jan 15 take you last paystub of each quarter and take the quarter to date gross pay and multiple it by the tax rate 3.07% here is the state estimate form http://www.revenue.state.pa.us/revenue/lib/revenue/pa-40esr_i.pdf
<message edited by Frankg on Wednesday, November 15, 2006 5:45 AM>
|
|
CJKSRR
-
Total Posts
:
4950
-
Reward points
:
133
- Joined: 7/24/2003
-
Status: offline
|
RE: Tax penalty.
-
Wednesday, November 15, 2006 2:56 PM
as long as you pay as you go you'll be fine. Your last payment will play catchup and even if you owe couple dollars at the end when you file not a big deal. It i just like Federal Taxes.
|
|
lenven
-
Total Posts
:
6423
-
Reward points
:
133
- Joined: 7/19/2003
- Location: Saylorsburg Pennsylvania
-
Status: online
|
RE: Tax penalty.
-
Wednesday, November 15, 2006 7:47 PM
ORIGINAL: Frankg pa requires estimated payments - they have been cracking down on this for the last couple of years. George quarterly payments are due by the 15th of the month following the end of a calendar quarter. so for Jan - Mar, it would be Apr 15 Apr - Jun, it would be Jul 15 Jul - Sep, it would be Oct 15 Oct - Dec, it would be Jan 15 take you last paystub of each quarter and take the quarter to date gross pay and multiple it by the tax rate 3.07% here is the state estimate form http://www.revenue.state.pa.us/revenue/lib/revenue/pa-40esr_i.pdf Frank: correct me if I'm wrong, but I think George is refering to local taxes. If that's the case, then aren't the payments due at the END of the following month. For example, Jan through March - due by end of April. Len
|
|
CJKSRR
-
Total Posts
:
4950
-
Reward points
:
133
- Joined: 7/24/2003
-
Status: offline
|
RE: Tax penalty.
-
Wednesday, November 15, 2006 9:52 PM
they send out quaterly coupons my soon ex has them else i give the dates
|
|
Frankg
-
Total Posts
:
10094
-
Reward points
:
134
- Joined: 7/19/2004
- Location: West End Pennsylvania
-
Status: offline
|
RE: Tax penalty.
-
Thursday, November 16, 2006 5:28 AM
yes local is due later in the month. I haven't heard local being so hard on tax payers. I assumed from George's posting that it was the state. But yes, as GCfab noted, if you contact your local township tax collector they will mail you a set of coupons.
|
|
salzing
-
Total Posts
:
654
-
Reward points
:
0
- Joined: 7/21/2003
- Location: Analomink Pennsylvania
-
Status: offline
|
RE: Tax penalty.
-
Thursday, November 16, 2006 8:02 AM
If you pick up a starving dog and make him prosperous, he will not bite you. This is the principal difference between a dog and a man. ~Mark Twain
|
|