Estimated Tax Return (Noun)
Meaning
Return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year.
Classification
Nouns denoting communicative processes and contents.
Examples
- The self-employed must file an estimated tax return each quarter to pay taxes on their income since no taxes are withheld.
- As a freelancer, she has to submit an estimated tax return to ensure she's meeting her tax obligations throughout the year.
- He is required to file an estimated tax return and make payments quarterly to avoid penalties.
- The small business owner must prepare an estimated tax return and submit it by the due date to comply with tax regulations.
- When income tax withholding is insufficient, taxpayers must submit an estimated tax return to fulfill their annual tax obligation.