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There are (potentially non-trivial) tax penalties for not paying quarterly taxes, it's not just something that people do for fun.
by slongfield 5y ago
There are (potentially non-trivial) tax penalties for not paying quarterly taxes, it's not just something that people do for fun.
- TechBro8615 5y agoThis is such a wonderfully naive view. Nobody is doing it for fun. They're doing it because they don't have the money nor the time to pay the IRS and an accountant every 3 months.
- mixmastamyk 5y agoNope, you have reached the limit of your knowledge. Estimated taxes must be paid at a minimum every quarter with few exceptions. You'd face large penalties for not complying over a period of time. https://directpay.irs.gov/directpay/payment https://directpay.irs.gov/directpay/payment That doesn't mean filing, it means estimating and paying. The rest of your post was pretty good, so it's disappointing to see you double-down on its one major flaw.
- TechBro8615 5y agoI'm not disputing that it's a requirement. I'm guessing that its compliance rate is low.
- mixmastamyk 5y agoCompliance rate probably increases when the first penalty arrives for taxes being 9 months late. They are usually lax at first however.