- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Does IRS still average withholding payments over the tax year?
In past years, IRS had a “policy” of averaging wage withholding over the year so that, if someone realized he had too little withheld, he could increase at the end of the year and avoid an underpayment penalty (yearly OR “quarterly”). I am aware that IRS pubs say one needs to have withholding based on quarterly earnings but that does not mean they enforce this (and who knows what the statute says).
Topics:
February 28, 2021
5:51 AM