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2nd and 3rd quarter estimate due dates

PATAX
Level 11

Just read an article about pending legislation, and the entity that represents tax preparers who support it, about moving the second and third quarter estimate due dates up one month... some may think that this is okay which is fine.. but one extra month isn't going to change much for some, and it is not like you're getting a lot of interest on your money sitting in the checking account... You can have $100,000 in that checking account and you'll be lucky if you bust $10 on a 1099-INT... with all of the issues this tax season you would think that there would be something more pressing than two estimate due dates that have been this way for many years.... come on man....

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PATAX
Level 11

I agree with you... That makes sense but then the businesses that file form 941 every quarter would complain...

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Just-Lisa-Now-
Level 15
Level 15
They should just make them thirds, June/Sept/Jan that April due date for current year taxes and next year estimates is rough for lots of people.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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PATAX
Level 11

I agree with you... That makes sense but then the businesses that file form 941 every quarter would complain...

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BobKamman
Level 15

Move them up, or move them back?  Make it July and October, instead of June and September, so that they are all three months apart?  That makes sense but it screws up a lot of states who conform to most federal deadlines and have a fiscal year that ends in June,

Originally it was March, June, September and December.  Middle of the third month of the quarter made it more comparable to withholding from each paycheck.  Then it was obviously easier to figure the last quarter once the books were closed for the year, so that was changed to January.  Then they changed the 1040 due date from March 15 to April 15, and it made it easier to estimate the first quarter once last year's tax was known.  

You can have $100,000 invested in HRB and collect another $1,200 dividend check if you wait a month.  

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PATAX
Level 11

By moving them up on the calendar, I mean moving them forward on the calendar which yes would be July and October... Thanks for the information on HRB, I will have to check that out... The banks around here pay .01% on checking accounts which is .0001 in decimal form... On $100,000 that would be $10 a year in interest... as Jed Clampett would say: "Pathetic, Just Pathetic"...

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