What are estimated tax payments?
An example of an AI chatbot conversation about estimated tax payments and their importance.
What are estimated tax payments?
Estimated tax payments are periodic payments made to the IRS to cover your tax liability throughout the year.
Who needs to make estimated tax payments?
Generally, self-employed individuals, freelancers, and those with significant income not subject to withholding need to make these payments.
How do I calculate my estimated tax payments?
You can calculate your estimated tax payments using Form 1040-ES, which provides a worksheet to help estimate your tax liability.
When are the estimated tax payments due?
Estimated tax payments are typically due quarterly, on April 15, June 15, September 15, and January 15 of the following year.
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