About income taxation.?

Question

is ok to pay may income tax annually and disregard payments quarterly? or it is mandated to pay quarterly? but i want to pay my income tax annually is it ok? is there no problem? pls help and Godbless.

Answer 1

If you are a business you have to pay quarterly.  It sucks though.  

Answer 2

Dear Curious,

  Whether or not you are subject to required quarterly payments depends on a number of factors.  If you have no wages or salaries subject to withholding, you may be subject to an underpayment penalty if your tax liability for the year is $1,000 or more. For more detailed information, including safe harbor rules and penalty amounts, check IRS Publication 505.

http://members.toast.net/busra17

Answer 3

If you owe less than $1000 when you file for the year, you're OK.  Otherwise you'll pay penalties.

Answer 4

NOT OK.  Must pay quarterly or per paycheck via employer deductions.  You will get into a hole so deep you can't get out.  Don't be stupid.  Pay your taxes quarterly.  They know where you live.

"but I want to pay my tax annually, is it ok?" = what when how and why are you in business?  You cannot be serious.