1st Estimated Payment due April 15th*
To avoid underpayment penalties from the IRS, it is essential to make estimated tax payments annually.
Review your tax return to determine your estimated payment obligations. If your income has changed and you receive W2 income, you may adjust your Federal withholding by submitting a W4, instead of making estimated payments. We can assist you in estimating your tax liability and determining the appropriate withholding amount. Additionally, we can prepare the W4 for submission to your employer.
If you are self-employed, these deadlines are particularly crucial, as taxes are not automatically withheld from your income.
PUT THESE DATES ON YOUR CALENDAR & the payments in your budget!
April 15th -1st estimated payment*
June 16th - 2nd estimated payment
Sept 15th - 3rd estimated payment
Jan 15th - final estimated payment
*Due to Federally Declared Disaster Areas in much of the southern United State, the deadline to timely make this payment has been extended to May 1, 2025. See here for details: https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-post-tropical-storm-helene-in-west-virginia-various-deadlines-postponed-to-may-1-2025
Contact us today to set up a consultation for your tax review! The sooner, the better so you're not stuck with a huge tax bill and/or penalties!
Shelley H. Morales is your Hometown Accountant!
352-358-1413 (text/call)
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