topic In what instance would you treat your tax withheld as paid (when it was actually withheld)? & what's the difference? in Retirement tax questions

In what instance would you treat your tax withheld as paid (when it was actually withheld)? & what's the difference?

kelseyyccollins — Sat, 01 Jun 2019 18:01:06 GMT

Working with a small underpayment penalty. I did some smaller freelance projects throughout the yea and personally withheld tax money throughout the year.. I did not file quarterly. When i treat as paid, both my federal tax due and my penalty are reduced. What is this action actually doing? There's not much explaination anywhere.

Don't treat the taxes as paid. Paid is when you physicall...

HelenaC — Sat, 01 Jun 2019 18:01:07 GMT

Don't treat the taxes as paid. Paid is when you physically send the money to the IRS and you stated that you did not pay estimated taxes. You withheld (put aside) the money, probably in a bank account which is not the same as paying federal income taxes.

topic In what instance would you treat your tax withheld as paid (when it was actually withheld)? &amp; what's the difference? in Retirement tax questions

In what instance would you treat your tax withheld as paid (when it was actually withheld)? & what's the difference?

Don't treat the taxes as paid. Paid is when you physicall...

topic In what instance would you treat your tax withheld as paid (when it was actually withheld)? & what's the difference? in Retirement tax questions