One of my largest frustrations each tax season comes over being questioned regarding estimated tax payments. As a tax preparer it feels like we are questioned if we set them up for clients, but we are ...
The IRS requires quarterly estimated tax payments on income that is not automatically subject to federal withholding.
As the tax deadline nears, you may be wondering how much you owe the IRS and how to pay that bill. Alternatively, you might be expecting a refund, and looking forward to putting that money to use.
Making estimated tax payments is important since the U.S. tax system operates on a "pay-as-you-go" basis. This means the IRS expects you to pay a portion of your income as soon as you earn it. As an ...