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American Economic Review: Papers & Proceedings 100 (May 2010): 115119 http://www.aeaweb.org/articles.php?doi10.1257/aer.100.2.115Institutions and Development Institutions, Factor Prices, and Taxation:
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What is estimates based on a?
Estimates are based on projected financial performance, tax liabilities, or expected income that individuals or businesses anticipate for a given period.
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Individuals and businesses that expect to owe tax of a certain amount for the year must file estimates based on those projections.
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Estimate filing typically involves using specific forms provided by tax authorities, detailing expected income, deductions, and calculating the estimated tax owed.
What is the purpose of estimates based on a?
The purpose of estimates is to ensure timely tax payments and avoid underpayment penalties by allowing taxpayers to pay anticipated taxes in installments.
What information must be reported on estimates based on a?
Estimates must report projected taxable income, tax credits, deductions, and the estimated tax amount owed for the period.
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