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Simple English definitions for legal terms

estimated tax

Read a random definition: minerator

A quick definition of estimated tax:

Estimated Tax: When the government charges people, businesses, or property to get money for public needs, it's called a tax. Sometimes, the government asks people to pay taxes before the year is over, and they have to guess how much they will owe. This is called estimated tax. Taxes can be paid in different ways, not just with money.

A more thorough explanation:

Definition: Estimated tax is a monetary charge imposed by the government on persons, entities, transactions, or property to yield public revenue. It is a tax that is paid in advance based on an estimate of the taxpayer's income for the year.

For example, if you are self-employed or have income that is not subject to withholding, you may need to pay estimated taxes throughout the year to avoid penalties and interest. The estimated tax is calculated based on your expected income and deductions for the year.

Another example is if you receive income from investments, such as interest, dividends, or capital gains, you may need to pay estimated taxes on that income.

The purpose of estimated tax is to ensure that taxpayers pay their fair share of taxes throughout the year, rather than waiting until the end of the year to pay a lump sum.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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