What is another word for declaration of estimated tax?
Pronunciation: [dˌɛkləɹˈe͡ɪʃən ɒv ˈɛstɪmˌe͡ɪtɪd tˈaks] (IPA) 
A declaration of estimated tax is a statement that an individual or business makes at the start of a tax year, which estimates the taxes owed for that year. This declaration is used to make payments throughout the year to avoid being hit with a large tax bill at the end of the year. Synonyms for this term include "estimated tax payment," "tax prepayment," "tax advance," and "estimated tax installment." Whatever term is used, the purpose of these payments is to ensure compliance with tax laws and regulations while also avoiding penalties and interest on underpaid taxes. Making estimated tax payments can be overwhelming, but it ensures that taxpayers are fulfilling their obligations to the government while also allowing for easier budgeting and financial planning.
