July, 2023

Staying in Compliance with the IRS: A Guide to Tax Filings and Paying Estimated Taxes

By Jackson Law Group
July 25th, 2023

Posted in Business & Corporate Law,Tax Law & IRS Defense

As a law firm specializing in solving IRS problems, tax resolutions typically begin with getting taxpayer clients in compliance. In other words, most tax resolutions first require tax compliance. In this post, we’ll guide you through the best practices to help you stay on the right side of the IRS.

1. Estimated Tax Payments

Estimated tax is the method used to pay taxes on income that is not subject to withholding. This may include income from self-employment, business earnings, interest, dividends, rent, or alimony. It also applies to individuals who do not elect voluntary tax withholding. Think of the IRS as a “pay as go” system. It does not matter whether taxes were withheld. It’s generally your obligation to pay the taxes prior to tax filing.

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