Friday, June 15, 2007


Key Bell, the Yellow Rose of Taxes, reminds us at DON'T MESS WITH TAXES that it is “Estimated Tax Time Again”. The 2nd Quarter federal and state estimated tax payments are due today – June 15th.

As I strongly remind my clients each year in my “Here is your tax return” letter - it is very important that you make your federal and state estimated tax payments on time to avoid penalties.

I also tell clients for whom I have scheduled state estimated tax payments to make the 4th Quarter payment in December of the current year (i.e. 2007) instead of January 15th of the next year (2008), which is the actual due date – unless, of course, they expect to be paying the dreaded Alternative Minimum Tax (AMT).


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