declaration of estimated tax

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Thân thiện
Definition
  1. Noun:
    • A tax return required from a taxpayer whose tax withheld from income does not meet their total tax liability for the year: This is a formal filing submitted to a tax authority, typically in advance of the annual tax return, to declare and pay estimated taxes owed on income not subject to sufficient withholding.
Usage Examples
  • Noun:
    • Freelancers and self-employed individuals often need to file a declaration of estimated tax quarterly.
    • If you receive significant investment income, you may be required to submit a declaration of estimated tax to avoid penalties.
Advanced Usage
  • "to file a declaration of estimated tax": The standard phrase for the action of submitting this form.
    • Independent contractors must learn how to file a declaration of estimated tax correctly.
Variants and Related Words

  • Estimated tax payment (n): A payment made based on the declaration of estimated tax.

    • His first estimated tax payment for the year is due in April.

  • Form 1040-ES (n): In the United States, this is the specific form used for filing a declaration of estimated tax.

    • You can download Form 1040-ES from the IRS website.
Synonyms
  • Estimated tax return: A less common but synonymous term.
  • Quarterly tax filing: A descriptive term highlighting the typical payment schedule.
Related Phrases
  • Pay as you go: A principle of tax systems where income tax is paid throughout the year as income is earned, often through withholding or declarations of estimated tax.
    • The declaration of estimated tax is part of the "pay as you go" tax system.
Noun
  1. return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year

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