Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Explore our Q&A platform to find reliable answers from a wide range of experts in different fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Question 79 of 85

If a taxpayer has a balance due, the tax preparer may need to determine if estimated payments will be necessary for the next year. If they are necessary, what steps should the tax preparer take?

Sagot :

GinnyAnswer

Final answer:

When a taxpayer has a balance due, the tax preparer may need to determine if estimated payments for the next year are necessary, advising the taxpayer on the proper steps to take.


Explanation:

When a taxpayer has a balance due, the tax preparer may need to determine if estimated payments for the next year are necessary. If estimated payments are necessary, the tax preparer should take the following steps:

  1. Evaluate the taxpayer's income and deductions for the upcoming year to estimate the tax liability.
  2. Calculate the required estimated tax payments based on the estimated tax liability.
  3. Advise the taxpayer on making timely quarterly estimated tax payments to avoid penalties and interest.

Learn more about tax preparation here:

https://brainly.com/question/36497908


We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.