Tax Warrior Chronicles

June 15 Estimated Tax Due Dates Still Valid in Certain States

Posted on Tue, Jun 09, 2020

In response to the COVID-19 pandemic nearly every taxing authority (federal, state, and local) granted taxpayers an automatic extension of time to file and/or pay 2019 taxes.  This has made the 2020 tax season… interesting.  As we approach June 15, which is typically the date second quarter estimated tax payments are due for most taxing authorities, many are wondering if they need to act now, or if they have until July 15, 2020 to make these payments.  The answer, as it usually is in taxation is, it depends.

 

Federal

The IRS recently released a reminder, that taxpayers with estimated tax payments for tax year 2020, originally due April 15 and June 15, are now due July 15. This means that

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VLOG - Tax Tips for Law Firm Partners

Posted on Mon, Jan 27, 2020

By: Irina Moyseyenko, CPA, MT

 

In our first vlog of 2020, Irina Moyseyenko, CPA, MT, gives three (3) important tax and cash-flow planning tips for newly dubbed law firm partners.  The way you are now paid is different and you need to plan accordingly. Click on the image to view. 

 

 

 

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Estimated Tax Payments for Individuals – The Who, What, When and Why

Posted on Thu, May 25, 2017

By: Tiffany Diaz, CPA

 

In today’s edition of the Tax Warrior Chronicles, we will explain when it is necessary to make estimated tax payments and the rules for paying the minimum amount of estimated tax without triggering the penalty for underpayment. There is a lot to know, so put on your learning caps.

 

When must you pay estimates?

If taxes are not withheld from earnings or investment income, estimated tax payments are generally required.

Individuals must pay 25% of a "required annual payment" by April 15, June 15, September 15, and January 15, to avoid an underpayment penalty. When that date falls on a weekend or holiday, the payment is due on the next business day.

 

How much must you

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