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Meet new estimated tax rules

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in Small Business Tax

The government has issued new final regulations on estimated tax payments required for corporations. (T.D. 9437, 8/7/07) The regulations are effective for companies with tax years beginning after Sept. 6, 2007.

In general, the final regs follow proposed regulations issued back in 2005, with certain modifications. Notably, the final regulations require certain items of deduction to be allocated in a reasonably accurate manner, regardless of the annualization period in which the items are paid or incurred. This reverses a controversial approach applied in the proposed regulations.

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