Quarterly tax payments should be made four times per year and the IRS does have guidelines or deadlines for these timeframes. These are as follows for 2021 Taxes (these deadlines have passed; reconcile your estimated payments by e-filing a 2021 Return): April 15, 2021 for income earned January 1 – March 31, 2021.
Are 2021 quarterly taxes delayed?
Taxpayers who paid too little tax during 2021 can still avoid a surprise tax-time bill and possible penalty by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The deadline for making a payment for the fourth quarter of 2021 is Tuesday, January 18, 2022.
Is the deadline for estimated tax payments extended?
The IRS had no plans to extend the tax-filing deadline for the 2020 tax year, but it later changed course and pushed the standard April 15 deadline to May 17, 2021. The agency also delayed Tax Day the year prior (for the 2019 tax year) in response to the COVID-19 pandemic.
What are required estimated tax payments?
Generally, you must make estimated tax payments for the current tax year if both of the following apply: You expect to owe at least $1,000 in tax for the current tax year after subtracting your withholding and refundable credits.
Are estimated tax payments delayed for 2020?
The first estimated tax payment for 2020 is due April 15. The April 15 estimated tax payment is delayed by 90 days as well. Thus, you need not pay it until July 15. The second estimated tax payment for 2020 is due June 15; this payment was not delayed.