IRS EXPECTS PAYMENT OF OF 90% OF THE TAXES OWED AS THE INCOME IS EARNED THROUGH OUT THE YEAR IN OUR PAY AS YOU GO TAX SYSTEM. REVIEW TAX PAYMENTS FOR YOUR BUSINESS OR PERSONAL TAX RETURNS AND LOOK FOR THE FOLLOWING:
1. IS SUFFICIENT FEDERAL & CA TAX WITHHELD ? IF NOT, THEN COMPUTE THE NUMBER OF ALLOWANCES USING THE W4 FEDERAL WITHOLDING AND "DE4" CA ALLOWANCE FORMS. INFORM THE PAYROLL ABOUT THE REDUCED NUMBER OF ALLOWANCES.
2. IF YOU OWN A BUSINESS, IS SUFFICIENT ESTIMATED FD & CA TAX PAYMENT MADE TO ACCOUNT FOR BUSINESS GROWTH? IF NOT, SEND IN HIGHER Q4 TAX PAYMENT BEFORE JANUARY 15, 2011.
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