12/16 - So Perfect Saturday!

Do you like cheese on your hamburger?


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ALinAL

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Someone else can correct me on this, but AFAIK quarterly payments are not tracked by the IRS. As long as you're squared up at the end of 2018 I don't think they care when the money comes in. You can still get further behind if you can't catch up, of course.
They'll start to add extra interest after April 15 and if you haven't set up an agreement by October or so, they'll threaten to seize property and what not. As long as you work with them and don't owe a bloody fortune, they're happy with payments and interest.
 

Kessikitty

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Oh goodness so the transition to the new site is complete, but I have no idea how to get my old scripts updated for it. Anyone posted a quick guide to switching over at all?
 

PhilGil

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They'll start to add extra interest after April 15 and if you haven't set up an agreement by October or so, they'll threaten to seize property and what not. As long as you work with them and don't owe a bloody fortune, they're happy with payments and interest.
Yeah, 2017 taxes need to be paid or a payment plan in place by April 15, 2018. I was referring to SarahAshlee90 @SarahAshlee90 's advance payments for 2018 taxes.
 

electrolyte

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Jessie Bustin

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Someone else can correct me on this, but AFAIK quarterly payments are not tracked by the IRS. As long as you're squared up at the end of 2018 I don't think they care when the money comes in. You can still get further behind if you can't catch up, of course.
The quarterly payments are tracked if you have not payed either 90% of your current year tax liability or 100% of your previous years tax liability. My husband and I had some hefty fines one year when I had consulting money coming in and we were both making bank bartending that our hourly didn't cover the taxes on. It hurt, bad.
 

sryan66611

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I am still waiting on some money coming in, but believe me I have some donations in mind. I am not a full timer (even if it seems like I'm here a bunch) 2017 = $2,858.33. I have been here with you guys trying to make some spare change for things like food, my phone bill and car insurance. I know I should have been putting a percent aside, but I suck at budgeting in general. Don't give up on me yet.

I am very thankful for the people responsible for the forum and the the many people the have poured their time into writing scripts and sharing them freely. I also like the people that do the AHK stuff, even though I don't use any of that type of thing.

Without the forum and the people writing and sharing scripts my year would have been much less. I know this.

Note to self - put a small percentage aside for the future of the forum, buy one less 4 pack of half quarts a week, it will add up and you will feel good about it.
No worries man I just put it up for a reminder for everyone... I know not everyone is in the position to donate.
 
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PhilGil

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The quarterly payments are tracked if you have not payed either 90% of your current year tax liability or 100% of your previous years tax liability. My husband and I had some hefty fines one year when I had consulting money coming in and we were both making bank bartending that our hourly didn't cover the taxes on. It hurt, bad.
That's kind of what I meant, though. They don't care whether you pay it all in January or December, as long as it's there (or 90% of it is) by the end of the tax year, right? I thought quarterly payments were recommended, but not mandatory.

If I'm wrong it's good to know. I'm not an accountant or tax attorney.
 

Jessie Bustin

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That's kind of what I meant, though. They don't care whether you pay it all in January or December, as long as it's there (or 90% of it is) by the end of the tax year, right? I thought quarterly payments were recommended, but not mandatory.

If I'm wrong it's good to know. I'm not an accountant or tax attorney.
Yeah I think we are both correct. The deposits are dated though and don't go directly to the IRS. So if the IRS doesn't have the 90% from withholdings then I think the deposits need to have been quarterly or there is a penelty(10% if I remember correctly). I don't have any professional expertise though so I am sure I could be remembering wrong or have misunderstood the fine print on my tax bill that year.
 
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