Installment payments for clients who owe taxes

Author: External Author | | Categories: Accountant , Tax Planning Services

Under the Income Tax Act, quarterly tax installments are required for this tax year if a taxpayer’s “net tax owing” for 2021 will be more than $3,000, and they also owed more than $3,000 in either 2020 or 2019. (For tax filers in Quebec, the threshold is $1,800 owing.)

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Original Article Source Credits: Advisor's Edge,

Article Written By: Jamie Golombek 

Original Article Posted on: 11th May 2021

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