The last installment of your quarterly payments toward 2008's liability is due today. It must be postmarked on or before January 15. Your state fourth quarter payment is also due today.
In three months, you will face the April 15 deadline for filing your 2008 taxes. On your returns you will list credit for the four quarterly payments you have made. They were due April 15, June 15, September 15, and January 15.
Take a quick minute. Grab your last pay stub for 2008 and find the year-to-date amount of federal and state income tax withheld. Grab your 2007 tax returns and compare your liability for that year with the withholding made toward 2008. If there is a shortage in comparison, it would be wise to make a quarterly payment today.
Forms are available on line as well as address where to mail your check. This quick exercise should help you avoid late payment penalties when you file your taxes in April.
'til later
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