Watch out for underpayment of income taxes during the tax year as you will experience heavy penalty interests for late payment. On 3 November 2011 most individuals have received the annual offer from The Tax Authorities (Skat) of the expected taxable income for 2012.
Some decides not to react, if the preliminary assessment suggested by Skat is lower than the expected taxable income, while most individuals react, if the estimated income is too high.
Other prefer that the assessment is as precise as possible in order to avoid substantial underpayment of income taxes during the income year including severe penalty interests.
The most important issue is that underpayment of income taxes at the end of the calendar year is imposed with heavy penalty interests.
If an individual has an overpayment of income taxes during the year the individual will receive added interests to the overpayment of 0-2 %. If an individual has an underpayment of income taxes at the end of the calendar year, the underpayment will normally be added approx. 6-11 % penaly interests.
Therefore, it is important that you act during November or December in order to avoid heavy penalty interests. This is reelvant for the new preliminary assessment for 2012, but it is even more important for the preliminary tax assesment for 2011, as you can not eliminate penalty interests of underpayments of income taxes for 2011 after the last banking day in December 2011.
Some individuals have contacted Inwema and asked if we could offer to monitor their preliminary income tax assessments, very often because they have experienced underpayments of income taxes with heavy penalty interests. Therefore, we have developped a special surveillance concept in order for clients to avoid these unpleasant underpayments and penalty interests, and to claim back overpayments of income taxes before 31 December. When the client receives the information from us on the tax balance with Skat they are able to determine what to do before it is too late.
Contact us at info@inwema.dk , if you need assistance or advice on your preliminary tax assessments for 2011 or 2012, or if your want information on our special surveíllance concept in order to reduce your total tax cost. 
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