Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
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allowable computation for avoiding penalties; this is 100 percent of the prior year’s tax liability. If you pay 100 percent of last year’s tax liability, you will not be penalized for underestimating even if your current year tax liability is larger than that amount.
If you file your tax return and pay the remaining taxes due by January 31, 1986, you are not inquired to make your fourth quarter estimate which otherwise is due January 16,1986.
If you receive a penalty notice for underestimating your taxes, do not pay it without a close review. There are three computations available to all taxpayers which may avoid a penalty for underestimating.
Q. Earl Yancey, CPA, is a ViewUrum resident and maintains his accounting practice in Warrenton.
95.6%