IRS penalty for underpaying estimated taxes jumps to 8% of the shortfall from 3% two years ago - with freelancers and the self-employed most at risk

10 months ago 33

The penalty, calculated quarterly based on the Federal Reserve's benchmark rate, hit 8 percent on October 1, up from just 3 percent in early 2021, when Fed rates were near zero.

Article From: www.dailymail.co.uk

Read Entire Article

Note:

We invite you to explore our website, engage with our content, and become part of our community. Thank you for trusting us as your go-to destination for news that matters.

Certain articles, images, or other media on this website may be sourced from external contributors, agencies, or organizations. In such cases, we make every effort to provide proper attribution, acknowledging the original source of the content.

If you believe that your copyrighted work has been used on our site in a way that constitutes copyright infringement, please contact us promptly. We are committed to addressing and rectifying any such instances

To remove this article:
Removal Request