It's not terribly uncommon for errors to be made when making contributions via Quarterly Estimates or wage contributions. But if the amount that you're required to pay exceeds your current withholdings or estimates, you could be subjected to an underpayment penalty. You can avoid the fine by paying 100% of your prior year's taxes, or a minimum of 90% of what is owed for 2015.
Your Trusted Partner in Tax & Accounting Services.
We're proud to serve the tax and accounting needs of our colleagues and clients in Rochester and throughout Western New York. Contact us today for a complimentary phone consultation, and let us show you how easy, affordable, and rewarding professional accounting, bookkeeping, and payroll services can be.