In article ,
"Cindi - HappyMamatoThree" wrote:

"Default User" wrote in message
...
Cindi - HappyMamatoThree wrote:

I haven't seen this at all in our area. I wonder why? But, our
stimulus checks are paying off last year's taxes. This year we are
paying estimated taxes to avoid having a balance at the end of the
year. The last two years we have been stuck so hopefully this year
will be very different.

Unless you are in a penalty situation, you're better off "paying
yourself" by putting what you would have paid as estimated taxes into a
specially designated money market account.

I need to bring that up with DH. He was intent about paying it off. We don't
have any penalty situation so yours is a good option.

But it appears that simply underwithholding (or not paying estimated
taxes) automatically puts you in a penalty situation. We just got
dinged by the state, and the penalty is more than any interest we could
have earned. We both filed and paid in full, on time. And we had to
pay interest, too. For US$16+, we don't plan on filing for bankruptcy,
but I'm a little concerned about our federal taxes.

We have asked our employers to take more money out each month. This
seems like the easiest way to deal with this.

--
Dan Abel
Petaluma, California USA