Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

(26,366 posts)

14. This is incorrect. Businesses (and individuals) must pay estimated taxes at least quarterly.

Fri Mar 21, 2014, 08:08 PM

Mar 2014

If you haven't paid most of your 2014 taxes already before the April 2015 filing deadline you owe additional penalties.

See:
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes
http://www.irs.gov/taxtopics/tc306.html
http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Since it is nearing the end of March, Drudge likely is referring to paying his first quarter's estimated tax.

Since Drudge apparently knows he won't be purchasing the required health insurance at all during the year he
knows what his penalty will be and can add 1/4th of it to his first estimated tax payment to avoid additional penalties.

Edit history

Please sign in to view edit histories.

0 members have recommended this reply (displayed in chronological order):

24 replies

= new reply since forum marked as read

Highlight:

Liar, Liar: TPM Catches Drudge With His Pants Down [View all] kpete Mar 2014 OP

Terrible imagery tkmorris Mar 2014 #1

The surprise would be if they caught Drudge with his pants up. lob1 Mar 2014 #2

Were there eggs involved? KamaAina Mar 2014 #3

egg? kpete Mar 2014 #9

I don't get it, either KamaAina Mar 2014 #10

It's a keeper. jsr Mar 2014 #4

Licer, licer, pants on icer! OilemFirchen Mar 2014 #5

matt Drudge doesn't have health insurance? JaneyVee Mar 2014 #6

I'm calling it a derpity tax. NuclearDem Mar 2014 #7

This message was self-deleted by its author pa28 Mar 2014 #8

This was a very stupid lie by Drudge Gothmog Mar 2014 #11

Drudge is such Lair and obviously hates Obamacare as much as Cha Mar 2014 #13

The penalty only applies for businesses with more than 50 employees. randome Mar 2014 #16

He is saying he owes the individual penalty joeglow3 Mar 2014 #23

His Tweets sound more and more unhinged. randome Mar 2014 #19

what, obamacare doesn't cover chaimphaigne bruches?!1 UTUSN Mar 2014 #21

Doesn't matter that he lied Mariana Mar 2014 #22

Sadly, he is correct joeglow3 Mar 2014 #24