Estimated Tax
Collecting Taxes from the Rich
The Federal Government estimates there is $350 billion in taxes due each year but not collected. In an effort to close this gap, last year the IRS ramped up its Global High Wealth Industry unit which will focus its efforts on collecting taxes from the rich. This unit is staffed with the IRS’ most sophisticated… read more
Estimated Tax: Getting it Right
Estimated tax is used to pay tax on income that is not subject to withholding or if not enough tax is being withheld from a person’s salary, pension or other income. Income not subject to withholding can include dividends, capital gains, prizes, awards, interest, self-employment income, and alimony, among other income items. Generally, individuals who… read more
