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re: Quarterly tax question for CPA’s
Posted on 7/14/20 at 9:21 pm to ykevin25
Posted on 7/14/20 at 9:21 pm to ykevin25
The irs will calculate what you should have paid in each quarter and charge interest on the amount. So the amount you don’t pay for the first quarter will have higher interest penalties than the final estimated payment because there were more months to accrue interest. The rate is published somewhere on the irs website but it changes every so often based on prevailing interest rates.
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