estimated tax

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Definitions from WordNet

Noun estimated tax has 1 sense

estimated tax - income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability
--₁ is a kind of income tax

Definitions from the Web

Estimated Tax

Noun:

An amount of tax that is calculated and paid in advance, based on the estimated income for a specific period.

Example Sentences:

The self-employed individuals have to pay estimated tax quarterly.
I need to calculate my estimated taxes for the upcoming year.
He received a penalty for failing to pay his estimated tax on time.

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