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Unformatted text preview: estimate of the total tax liability that will be due at the end of the year. There will almost always be a difference between the actual amount due and the amount estimated. The amount due or overpaid is determined when the final tax return is filed. A taxpayer will pay too much during the year if he or she estimates a higher tax liability than is actually due. Sometimes taxpayers choose to pay too much as a method of forced savings....
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- Spring '11