How does someone overpay their federal

[Raven]

income taxes to the tune of $1.4 million? Can someone explain this to me?

[unblock]

1. rounding.

[Laura PourMeADrink]

8. lol

[grasswire]

2. my FIL was an IRS bigwig. He always over paid, every year.

He just did it because he wanted to. But not that level!

[Raven]

3. The few times I got an extension for

filing, I overpaid just to be safe but I never paid twice as much as I needed to. Seems strange for a so-called good businessman to do.

[yawnmaster]

4. by estimating one's income higher than it actually turns out to be...

so that taxes are paid based on that estimate.
That and if a large deduction appears, perhaps writing off a failed stock.
Once can then expect more money back (ie overpaid taxes).
I've done it, but not to 1.4 million.

[sinkingfeeling]

5. By not taking advantage of all possible credits and deductions. Mittwit deferred his deductions

until next year.

[liberal N proud]

6. Tell people that you overpaid

[pnwmom]

7. He purposely didn't claim all the charitable deductions he was entitled to so that,

he says, he would end up paying the percent in taxes he said he would be paying.

But don't worry about him -- he has 3 years to amend his taxes and get a bigger refund.

[unblock]

9. excellent point; and once he loses in november and is finished in politics, why wouldn't he?