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3 Δεκ 2002 · To use this safe harbor, the taxpayer must have filed a full year return in the prior year. If your total taxable income for 2016 was $50,000, your safe harbor amount for 2017 would be $50,000 times the current tax rate of 3.07 percent or $1,535, which would be paid in four equal installments of $384. Was this answer helpful?
Estimated tax installment payments are a remittance of tax paid in advance of year-end on the basis of anticipated tax liabilities on Pennsylvania-taxable income that is not subject to employer withholding.
3 Δεκ 2002 · If you received your income unevenly and you did not make equal payments throughout the year, you may have to claim your safe harbor by completing a REV-1630. Payments made after December 31, 2021 for personal income tax payments equal to or greater than $15,000 must be made electronically.
12 Φεβ 2003 · There is a 90-percent safe harbor provision, which says that if you pay at least 90 percent of the current year tax liability for each quarter, you will not be liable for an estimated underpayment penalty if each payment is made on time. Was this answer helpful?
3 Μαΐ 2024 · The Department of Revenue offers a safe harbor for this reason. Taxpayers can avoid the penalty if they use four equal timely installments to pay at least 90% of this year's tax, or 100% of last year's tax. Estimated tax installment payments are normally due on the following dates, unless the 15th falls on a weekend or holiday.
31 Ιαν 2024 · The safe harbor provisions are: If you expect to owe less than $1,000 after subtracting your income tax withheld, you’re safe. If you pay 100% of the previous year’s tax liability via estimated quarterly tax payments, you’re safe. If your adjusted gross income for the year is over $150,000, then it’s 110%.
The Pennsylvania Personal Income Tax (PIT) Guide is for informational purposes only, and while it's the department's intention to maintain the guidance herein as accurately as possible, this publication is not binding on the department if the guidance is outdated or contradicts statutory, regulatory or case law, or binding letter rulings.
