ESTIMATED TAX PENALTY

Technical topics regarding tax preparation.
#1
TAXESAM  
Posts:
108
Joined:
14-Jan-2019 3:31pm
Location:
OKLAHOMA
Hello, I have a client with earning alot higher than expected because of a k-1 that "He was not expecting" is there anything that we could file to reduce this penalty?
thanks in advance
 

#2
Posts:
800
Joined:
30-May-2014 7:38am
Location:
NC
 

#3
Wiles  
Posts:
5073
Joined:
21-Apr-2014 9:42am
Location:
CA
Annualize. But you will need to know how that K-1 income breaks down by quarter.

Also, does your client qualify for disaster relief for that Q2 payment?
https://www.irs.gov/newsroom/irs-announ ... ng-victims
 


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