Tax Reform Tax Tip 2018-142: Taxpayers should find out if they need to make estimated or additional tax payments
Internal Revenue Service (IRS) sent this bulletin at 09/12/2018 11:47 AM EDT
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Issue Number: Tax Reform Tax Tip 2018-142Taxpayers should find out if they need to make estimated or additional tax payments
Taxpayers can pay their taxes throughout the year anytime. They must select the tax year and tax type or form when paying electronically. Filers paying by check should make it out to the “United States Treasury” and indicate the tax year and type of taxes they are paying. Taxpayers who pay taxes through a combination of withholding and estimated tax payments should do a Paycheck Checkup. They can do a checkup using the Withholding Calculator on IRS.gov. Doing so now can help the taxpayer avoid an unexpected tax bill and possibly a penalty when the taxpayer’s 2018 tax return is filed next year. Here are some examples of people who may need to make estimated tax payments: Individuals – including sole proprietors, partners and S corporation shareholders – may need to pay quarterly installments of estimated tax if:
Other taxpayers who may need to make estimated payments include those who:
For tax year 2018, the remaining estimated tax payment due dates are Sept. 17, 2018 and Jan. 15, 2019. More Information: Share this tip on social media -- #IRSTaxTip: Taxpayers should find out if they need to make estimated or additional tax payments. https://go.usa.gov/xPxsX Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |