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Barbara Weltman

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Estimated Tax Penalties on the Rise

September 3, 2017 / By Barbara Weltman

In the government’s 2016 fiscal year, more than 10 million individuals paid estimated tax penalties. This compares with 9.6 million in the previous year, and 8.9 million in FY 2014. Possible reasons for the increase: growth in gig workers unaware of estimated tax obligations and the low penalty rate (leading some to postpone tax payments).

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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