What is the deadline for making estimated tax payments?

In California, the deadline for making estimated tax payments is April 15th of the current year. This deadline is set by the Internal Revenue Service (IRS) and applies to all taxpayers who have income that is expected to be subject to federal income tax. If a taxpayer is unable to send in their estimated tax payments on the April 15th deadline, they must file IRS Form 2210, entitled Estimated Tax for Individuals, and request an extension. This extension must be requested by the due date of the estimated tax payments and can extend the due date up to June 15th. If a taxpayer does not make their estimated tax payments by the April 15th deadline, they can face penalties from the IRS. Penalties are calculated by the IRS based on the amount of the tax not paid on time and the amount of interest that the taxpayer owes. The interest rate for estimated taxes is determined by the IRS and changes quarterly. It is important for taxpayers to be aware of the due dates for their estimated taxes. By making their payments in a timely manner, they can avoid any penalties or interest charges. Furthermore, taxpayers should make sure they have a clear understanding of their tax liability so they can make the correct estimated tax payments and be in compliance with the law.

Related FAQs

Are 401(k) contributions tax-deductible?
What is the tax rate for small business owners?
What is a tax evasion?
What is the tax rate for trusts?
Are there any tax credits available?
How do I determine my filing status?
What is a tax return transcript?
What deductions can I take?
What are the tax incentives for buying a home?
What are the tax advantages of a Roth IRA?

What is the deadline for making estimated tax payments?

Related FAQs

Related Blog Posts