Posts Tagged ‘irs’
Federal Tax Id For Llc
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Estimated Tax Payments 2009 Federal

Question: How much penalty will I pay since I owe about $1800 in federal taxes this year?
My husband and I do not have any additional income other then our salaried jobs. He claims 0 while I claim 1. For some reason, there was an error throughout the year in the amount that should have been taken out from my paycheck for federal. Last year we owed 1181 and paid 14 dollars in underpayment penalties and we didn’t send in Estimated Tax Payments throughout the year for 2009, since we figured we would be okay. What kind of penalty am I looking at?
Answer: It looks like the IRS charged you interest on your underpayment last year of about 1.2%. Basically they are saying that the money should have been with them instead of with you and they charged you a fee for that privilege.
I would think that the same fee would be applied to this year’s underpayment, or about $22 on the $1800 shortfall.
Are Federal Workers Underpaid? (Part 2 of 2)