2017 ULTRATAX CS- Alerts and notices
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Internal Employees
Question
Has there been a change in safe harbor rules affecting estimated tax payments for high income taxpayers?
Answer
No. For 2017, the estimated tax safe harbor rule is based on the tax shown on the client's 2016 tax return and is 110 percent of that amount. This applies to taxpayers with adjusted gross income of more than $150,000. This amount calculates automatically when you are using estimate option 1, 3, or 8 in the Form 1041-ES section on Screen Est in the Payments folder.
Related topic: 1041-US: Estimated taxes FAQs