What Is Estimated Tax? Taxes From A to Z®
Learn how estimated tax payments work, who needs to make them, when payments are due, and how safe harbor rules can help you avoid penalties.
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Need Help Figuring Your Estimated Payments? IRS Made A Video.
Estimated payments for the third quarter are due September 15, 2020. You can find out more about the deadline here. But you need a little more information, you’re in luck! The Internal Revenue Service (IRS) has, at part of its video series, a YouTube video about estimated payments: The IRS notes that you can learn…
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Don’t Forget: Your Estimated Tax Payments Are Due On September 15
It doesn’t feel like it could be September already, but it is. And you know what that means: estimated payments are now due. The deadline for making your third quarter estimated tax payments for 2020 is September 15. Who Needs To Make Estimated Payments? Generally, you should make estimated tax payments if you are not…
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Reminder: Estimated Payments Are Due July 15
Scrambling to make estimated payments? Don’t worry! The Internal Revenue Service (IRS) is reminding taxpayers that estimated tax payments for the tax year 2020, ordinarily due April 15, 2020, and June 15, 2020, are now due July 15, 2020. The extended deadline means that any individual or corporation that has a quarterly estimated tax payment due April 15,…
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IRS Extends Tax Deadlines, Including Estimated Payments & Refunds
Last month, the Internal Revenue Service (IRS) announced that the tax filing season had been pushed to July 15, 2020. A few days later, the IRS issued guidance, making official the announcement tweeted by Treasury Secretary Steven Mnuchin (and subsequently retweeted by the IRS) that the due date for filing tax returns and making tax payments has been…
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Ask The Taxgirl: Estimated Payments During Coronavirus
Taxpayer asks: Is the 1st 2020 quarterly still due on April 15? This means selling securities in a down market to cover that. What’s official? What’s your take? Taxgirl says: No, estimated payments are no longer due on April 15, 2020. As COVID-19 continues to impact the United States, the federal government is taking action to…
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Taxes From A To Z (2015): U Is For Underpayment Penalty
It’s my annual “Taxes from A to Z” series! Next up: U is for Underpayment Penalty If you owe tax on Tax Day, it may not simply be enough to write a check for the tax due. Depending on how much tax you owe – and the circumstances – you may also have to pay…
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Taxes From A To Z (2013): A Is For Annualized Income Installment Method
Today, I’m kicking off my annual “Taxes from A to Z” series. As part of the series, I plan to focus on tax terms that might not get much play on a day to day basis… If you’re wondering what the heck MAGI is or how to figure out the difference between an injured spouse…
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Taxes From A To Z: P Is For Penalty On Estimated Tax
P is for Penalty on Estimated Tax. If you receive payments or other funds without having any federal income taxes withheld, you should consider making estimated payments throughout the year to avoid any penalties. This applies not only to the self-employed or occasional freelancers but also to those taxpayers who may receive income from other…
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Taxes From A To Z: D Is For Deductible Taxes
D is for Deductible Taxes. (Admit it, you thought I was going to say depreciation. Nah, that was last year.) It feels like everything you touch these days is associated with some kind of tax. You can get socked with taxes for doing anything from working to tanning to smoking. It can add up. Surely…
