According to the IRS, the required estimated tax payment for certain small businesses has decreased.
For certain small businesses, the required estimated tax payment for the year is the lesser of 90% of your 2008 tax or 90% of your estimated 2009 tax. This rule applies to individuals who satisfy all of the following:
The health coverage tax credit has been increased for certain individuals. If you are going to pay 2009 estimated taxes, the IRS suggests that you consider such a change when making payments.
According to the IRS, for individuals who are eligible trade adjustment assistance (TAA) recipients, alternative TAA recipients, or eligible Pension Benefit Gu... Read more >>
Great news for those of you out there that pay estimated taxes and have bought, or are planning to buy, your first house.
According to the IRS, you may be able to claim a refundable credit of up to $8,000 if you are a first-time homebuyer and buy a principal residence after December 31, 2008, and before December 1, 2009.
The IRS has posted more information about the fi... Read more >>
New for 2009 in estimated taxes: according to the IRS, the credit available to taxpayers from Build America bonds must be included in income as interest. Any unused credit is refundable.
If you pay estimated taxes and own Build America Bonds, the IRS suggests you take into account this new information.
For more information, we put together a listing of everything that’... Read more >>
If you pay estimated taxes and have converted your vehicle from a gas guzzler to a plug-in, check out this out:
According to the IRS, a new credit is available for converting a motor vehicle to a qualified plug-in electric drive motor vehicle. The maximum credit is $4,000, and will be claimed as part of the alternative motor vehicle credit.
For more information about what else is new in estimated taxes for 2009, check out our New for ... Read more >>
