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New York State Department of Taxation and Finance 1st DRAFT Estimated Tax Penalties for Partnerships and New York S Corporations R Lawler 11/25/08 IT2659 (For underpayment or nonpayment of estimated
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What is estimated tax penalties for?
Estimated tax penalties are imposed on taxpayers who have not paid enough in taxes throughout the year, either through withholding or estimated tax payments.
Who is required to file estimated tax penalties for?
Individuals, self-employed individuals, corporations, and estates or trusts may be required to file estimated tax penalties.
How to fill out estimated tax penalties for?
Estimated tax penalties can be filled out using form 2210 provided by the IRS, or through electronic payment options.
What is the purpose of estimated tax penalties for?
The purpose of estimated tax penalties is to ensure that taxpayers pay a sufficient amount of tax throughout the year, rather than waiting until the end of the year.
What information must be reported on estimated tax penalties for?
Taxpayers must report their total income, deductions, credits, and payments made throughout the year on estimated tax penalties forms.
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