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Publication 505 (Rev. December 2001) Cat. No. 15008E Contents Introduction. . . . . . . . . . . . . . . . . . . . . Important Changes for 2001. . . . . . . . . Important Changes for 2002. . . . .

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What is publication 505 rev december?

Publication 505 rev December is a document published by the Internal Revenue Service (IRS) that provides information on tax withholding and estimated tax. It explains the federal income tax rules for individuals and helps taxpayers understand how to calculate and pay their taxes throughout the year.

Who is required to file publication 505 rev december?

Publication 505 rev December is not a filing requirement itself, but it provides guidance for individuals who may need to estimate and pay their taxes using Form 1040-ES. Taxpayers who expect to owe at least $1,000 in federal income tax after subtracting their withholding and credits are generally required to make estimated tax payments, as explained in Publication 505.

How to fill out publication 505 rev december?

Publication 505 rev December is a guide that helps taxpayers understand and calculate their estimated tax payments. It provides worksheets, examples, and explanations to assist with determining the proper amount of estimated tax to pay. Taxpayers should carefully read and follow the instructions provided in Publication 505 to accurately fill out their estimated tax forms and make timely payments.

What is the purpose of publication 505 rev december?

Publication 505 rev December serves the purpose of helping taxpayers understand the rules and procedures related to tax withholding and estimated tax payments. It provides guidance on how to calculate estimated tax, when to make payments, and how to adjust withholding throughout the year to avoid underpayment penalties and interest charges.

What information must be reported on publication 505 rev december?

Publication 505 rev December does not require taxpayers to report specific information. Instead, it provides information to help taxpayers understand the tax rules, calculations, and procedures associated with estimating and paying their federal income tax. It explains how to determine taxable income, calculate tax liability, and make the necessary estimated tax payments throughout the year.

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