If you are racing to file taxes, you could miss another key deadline: the April 15 due date for first-quarter estimated tax payments.
Estimated tax payments typically apply to earnings from gig economy work, freelancing, small business, retirement or investing, which may have no tax withholdings.
If you expect to owe at least $1,000 in taxes, you must make your first-quarter estimated payment for 2024 by April 15.
That can be "tricky" for certain tax filers with federal taxes due on the same day, according to certified public accountant Tom Wheelwright, CEO of WealthAbility.
The 2024 payment due dates are April 15, June 17, Sept. 16 and Jan. 15, 2025.
Persons:
Tom Wheelwright, —
Organizations:
WealthAbility, Finance, Federal, IRS