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PRELIMINARY ESTIMATE DOES NOT INCLUDE CODIFICATION OF POTENTIAL DECEMBER LEGISLATIONProposal for Codification Services PREPARED FOR:Town of Dewey Beach, Delaware PREPARED BY:LORIANN SHURA CODIFICATION
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A preliminary estimate does not represent a final calculation or determination of tax liability; it is an initial estimation based on available information.
Taxpayers who are not required to file a preliminary estimate do not include individuals or entities whose tax liability is expected to be below a certain threshold or who do not expect a tax due at the end of the year.
When filling out a preliminary estimate, it does not require reporting items that are not anticipated to affect the current year's tax liability, such as unrelated income or deductions.
The purpose of a preliminary estimate does not serve as an official record for tax audits; it is merely a guideline for making timely payments if necessary.
Information that must be reported on a preliminary estimate does not include details of certain tax credits or deductions that have not been finalized or confirmed.
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