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IRS: Make a Tax Payment Now, Avoid a Tax-time Surprise

Source: mychesco.com - Jan 13, 2020

WASHINGTON, D.C. — Taxpayers who paid too little tax during 2019 can still avoid a tax-time surprise 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 2019 is Wednesday, January 15, 2020.

Income taxes are pay-as-you-go. This means that by law, taxpayers are required to pay most of their tax during the year as income is received. There are two ways to do this:

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Category: General Business