• Kecessa@sh.itjust.works
    1·
    2 months ago

    I’m not in the US but I thought about that once, I would be better off not paying taxes on my paycheque, putting what I’m supposed to owe in a savings account and keeping the interest when paying all my taxes at once…

    • piccolo@sh.itjust.works
      3·
      2 months ago

      Fun fact. If you are self employed, you are expected to predict your annual tax and pay it quarterly. Get it wrong, and you pay penalties.

      • Kecessa@sh.itjust.works
        1·
        2 months ago

        Same in Canada if you’ve got too much capital gains one year, you’re asked to pay in advance the following year but it’s not an obligation.

    • btaf45@lemmy.worldEnglish
      3·
      2 months ago

      Then you would owe the IRS interest on the money in the form of a special penalty surcharge on your taxes owed.