bell notificationshomepageloginNewPostedit profiledmBox

Hoots : New York State withholding penalty If I get a penalty from New York State, can I pay it and the withholding all at once? For example, my withholding tax in NYS is k, and my penalty is also k. Can I can pay all k - freshhoot.com

10% popularity   0 Reactions

New York State withholding penalty
If I get a penalty from New York State, can I pay it and the withholding all at once?

For example, my withholding tax in NYS is k, and my penalty is also k. Can I can pay all k at the same time?


Load Full (1)

Login to follow hoots

1 Comments

Sorted by latest first Latest Oldest Best

10% popularity   0 Reactions

I'm not sure what you mean by "withholding tax" but typically you pay any penalties when you file your annual tax return; it is added on to your total tax amount and used to calculate your net tax due or refund.

For example, if you have ,000 in income tax due, have a ,000 penalty and had ,500 withheld throughout the year, when you file your state taxes you'll have a net tax due of 0 (10,000 + 1,000 - 10,500).

If you're asking if you can pay the penalty earlier - such as with an estimated tax payment, then sure - it will just count as taxes already paid when you file your annual return.


Back to top Use Dark theme