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Frequently Asked Questions

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  • Electronic Filing
  • Miscellaneous
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  • Tax Calculations
    • Q1. Can I round dollar values when entering my return?
      Yes. Please round to the nearest whole dollar.
       
    • Q2. If I am permitted to and choose to pay my taxes on the estimated basis, how do I calculate the amount I owe for each payment period?
      Determine the amount of tax you owed the city in the previous tax year. If the tax for which you are registered requires monthly deposits, divide that total annual tax amount owed in the previous tax year by twelve. The quotient is the amount that you must pay each month in the current tax year. If the tax for which you are registered requires quarterly deposits, divide that total annual tax amount owed in the previous tax year by four. The quotient is the amount that you must pay each quarter in the current tax year.

      For Example: PWT Rental Corp's actual Transaction tax liability for the tax year July 1, 2010 through June 30, 2011 was $24,000. PWT determines that it is qualified to make tax payments on the estimated basis. If they elect to pay on the estimated basis, the amount they must pay each month for the July 1, 2011 through June 30, 2012 tax year is $2,000 ( which is the quotient of the total annual tax liability $24,000 divided by 12 months).

       
    • Q3. I have a late monthly payment. Should I increase the payment to the Department of Finance?
      If you have any late periodic payments, please add Penalty and Interest amounts to your return payment check and coupon.
       
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  • Delinquency / Incomplete Notification
  • Penalty and Interest
  • Deficient(DF) / Delinquent(DL) / Incomplete(DI) / Unsigned(DU)