It’s important for taxpayers who didn’t pay enough tax during 2024 to help avoid penalties by making a fourth quarter estimated tax payment by Jan. 15, 2025. Those who may need to make estimated payments include investors, gig workers and others with self-employment income. Also, it’s common for those who owed tax last year to find themselves in the same situation this year, possibly due to switching from itemized deductions to the standard deduction. In addition, households with two wage earners and those who failed to increase their withholding may owe at tax time. Contact us with any questions. © 2025