declaration of estimated tax

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Definitions from WordNet

Noun declaration of estimated tax has 1 sense

declaration of estimated tax, estimated tax return - return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year
--₁ is a kind of tax return, income tax return, return

Definitions from the Web

Declaration of Estimated Tax

Definition:

The Declaration of Estimated Tax refers to a legal document filed by individuals and businesses to report and pay the estimated amount of income tax they expect to owe for the current tax year. It is used when the taxpayer's income tax withholding and credits do not cover the full amount of their anticipated tax liability.

Sample Sentences:

As a self-employed individual, John filed a declaration of estimated tax to ensure he meets his tax obligations.
The deadline for submitting the declaration of estimated tax is usually April 15th.
If you fail to file a declaration of estimated tax or underestimate your liability, you may be subject to penalties and interest.

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