estimated tax

estimated tax
An income tax estimated as to amount, prior to the actual accrual of the entire income, as a basis for payment in instalments during the year and, if the taxpayer is employed, for withholding of a certain amount by the employer from each salary or wage payment, to be turned over to the government and credited to the employee in his income tax return for the year in which withheld.

Ballentine's law dictionary. . 1998.

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  • estimated tax — es·ti·mat·ed tax n: a tax paid usu. quarterly by certain entities (as corporations or trusts) or individuals on income that is not subject to withholding ◇ A declaration of estimated tax is not required for federal income taxes for tax years… …   Law dictionary

  • estimated tax — Tax to be paid quarterly on income that is not subject to withholding tax, including self employed income, investment income, alimony, rent, and capital gains. Bloomberg Financial Dictionary * * * estimated tax UK US noun [U] ► …   Financial and business terms

  • estimated tax — Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non wage employees, and wage employees with income not subject to withholding. Individuals must remit at least 100% of their prior… …   Black's law dictionary

  • estimated tax — Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non wage employees, and wage employees with income not subject to withholding. Individuals must remit at least 100% of their prior… …   Black's law dictionary

  • Estimated Tax — Periodic advance payment of taxes which are based upon the amount of income that is earned and the amount of estimated tax liability that will be incurred as a result. Estimated taxes are assessed on income that is not subject to any type of… …   Investment dictionary

  • estimated tax return — noun return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year • Syn: ↑declaration of estimated tax • Hypernyms: ↑tax return, ↑income tax return, ↑return …   Useful english dictionary

  • estimated tax — noun income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer s predicted tax liability • Hypernyms: ↑income tax …   Useful english dictionary

  • declaration of estimated tax — noun return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year (Freq. 1) • Syn: ↑estimated tax return • Hypernyms: ↑tax return, ↑income tax return, ↑return …   Useful english dictionary

  • Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… …   Wikipedia

  • estimated taxes — Quarterly tax payments made by self employed individuals to the IRS and state tax agencies for their anticipated income tax liability for the year, in lieu of withholding from a paycheck. Estimated tax payments are used to pay both income and… …   Law dictionary

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