Estimated tax safe harbor for higher income taxpayers. For installment payments for tax years beginning in 2001, the estimated tax safe harbor for higher income individuals (other than farmers and fishermen) has been modified. If your adjusted gross income was more than $150,000 ($75,000 if you are married filing a separate return), you must have deposited the smaller of 90% of your expected tax for 2001 or 110% of the tax shown on your 2000 return to avoid an estimated tax penalty.

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