If you make estimated tax payments, be aware that April 15 isn’t just the 2023 tax filing deadline. It’s also the deadline for the first estimated tax payment for 2024. Estimated tax payments are generally made by self-employed people, retirees, investors, businesses and others that don’t have taxes withheld from their income. The payments are also made by employees who don’t withhold enough tax to pay what’s due.
Taxpayers who don’t make estimated payments (or don’t make sufficient payments) may be subject to failure-to-pay penalties. Exceptions apply to certain taxpayers. The second estimated payment for 2024 will be due June 15. For more information: https://bit.ly/4aFuJuc