Julia, This paragraph appears in the instructions for form 1040-ES: Matching estimated tax payments to income. If you receive your income unevenly throughout the year (for example, because you operate your business on a seasonal basis), you may be able to lower or eliminate the amount of your required estimated tax payment for one or more periods by using the annualized income installment method. See Pub. 505 for details. hope this helps Mike KeyKat88 at aol.com wrote: > Greetings, > > I know that in order not to get an IRS penalty you gotta send > in in estimnated payments at least 90% of the previous year's business > worth of tax.. > > My questrion is:Does anyone know if the quarterly payments > must be in equal amounts? In other words, if my estimated yearly > tax comes out I usually owe $400, (that would be $100 per quarter), > can I send them only $10 for the first three quarters estmiamted > payments, and then send the remaining $370 in the last quarter of the > year? Is that legal or allowed? My business is poorer in the summer, > its such a burden! > > Julia > Reading, PA > > > > ------------------------------------------------------------------------ > See what's free at AOL.com > <http://www.aol.com?ncid=AOLAOF00020000000503>.
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