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Trump Set To Announce Biggest Tax Increase On Americans In Decades (www.huffpost.com)

submitted 5 days ago by [email protected] to c/[email protected]

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[–] Kecessa 1 points 5 days ago (2 children)

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 3 points 5 days ago (1 children)

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 1 points 5 days ago* (last edited 5 days 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.

[–] [email protected] 3 points 5 days ago

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