About this episode

This episode discusses estimated tax payments for corporations, including due dates and safe harbors to avoid penalties.

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - C corporations must make estimated tax payments if their expected annual tax is $500 or more. - The four quarterly payment due dates for a calendar-year corporation are April 15, June 15, September 15, and December 15. - Safe harbors to avoid the underpayment penalty include paying 100% of the current year's tax or 100% of the prior year's tax. - A 'large corporation,' with $1M or more in taxable income in any of the three prior years, can only use the prior-year safe harbor for its first installment. - The underpayment penalty for corporations is governed by IRC Section 6655 and payments are figured using Form 1120-W. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

People in this episode

Host: Ran Chen

Topics covered

• Estimated Tax Payments
• C Corporations
• Tax Penalties
• Tax Safe Harbors
• Corporate Taxation

Keywords

• C corporations
• estimated tax payments
• tax penalties
• quarterly payments
• IRC Section 6655

Mentioned in this episode

Organizations: Open Exam Prep, YouTube Channel

Products: Form 1120-W, Series 6, Series 63, Series 65

Places: IRC Section 6655

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