Did you miss the due date? If you make estimated tax payments, be aware that April 15 isn’t just the 2024 tax filing deadline. It’s also the deadline for the first estimated tax payment for 2025. Estimated tax payments are generally made by self-employed people, retirees, investors, businesses and others who don’t have taxes withheld from their income. The payments are also made by employees who don’t have enough tax withheld to cover what’s due. Failure to pay sufficient taxes through withholding or estimated tax payments can result in penalties. Exceptions apply to certain taxpayers. The due date for the second estimated payment for 2025 is June 16, as June 15 falls on a Sunday. To learn more: https://bit.ly/3Yiba74
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