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jklcpa

PA local EIT, annualize for underpayment penalty?

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TP had ~ 1/3 of his W-2 income that came from an "award" and included in the final 2-week pay period of the year in the amount of $204K .  It was probably a performance based award or bonus .

Do the local jurisdictions have a provision that allows annualizing to help minimize the underpayment penalties calculated on the quarterly basis?  If I provide annualized data on the PA rev-1630, is that information taken into consideration?

This particular client I'm asking about will be filing with Keystone Collections Group.

 

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