Hi, I can't remember where the 4th quarter tax payment is applied. Is is to the previous year or current year? January 15, 2006 4th quarter payment was made but would it have been applied to 2005 or to my 2006 income taxes owed that will be due and payable April, 16, 2007? Thank you for your help!!
2007-01-01 01:29:06 · 2 answers · asked by Mark's Mine 2 in Business & Finance ➔ Taxes ➔ United States
Your 4th quarter ES payment which is due on January 15th of the following year is applied to the previous year. For example on January 15th of 2007 you are paying for 2006.
2007-01-01 06:45:05 · answer #1 · answered by David M 2 · 0⤊ 0⤋
The 4th quarter of 2006 ended Dec 31, 2006. Any payment made Jan 15,2006 could not possibly relate to that quarter. If you are making quarterly payments and don't know this, you absolutely need an accountant.
The short answer is: 2005.
2007-01-01 09:35:49 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋