As an individual taxpayer, you can get hit with a healthy, non-deductible interest penalty if you fail to pay enough federal income tax in advance—including any self-employment tax and alternative minimum tax (AMT)—via withholding and/or timely estimated tax payments.
You usually trigger the penalty when you miss an estimated tax payment. If that happens, what can you do about it? Good question. Please read this for the answers.
Estimated Tax Payment Basics
If you use the calendar year for federal income tax purposes, as almost everybody does, the due dates for quarterly estimated tax payments for your 2024 tax year are April 15, 2024; June 17, 2024; September 16, 2024; and January 15, 2025.
The due dates for quarterly estimated tax payments for your 2025 tax year are April 15, 2025; June 16, 2025; September 15, 2025; and January 15, 2026.
Best Ways to Pay
The best way for an individual taxpayer to make quarterly estimated federal income tax payments depends on convenience, security, ... Log in to view full article.
