The second quarter estimated tax payment deadline is almost here. If you make quarterly payments, you have until June 17 to pay and avoid possible underpayment penalties. If you don’t currently make estimated payments, should you? In general, individuals should make payments if they expect to have a tax liability of $1,000 or more (for corporations, $500) when they file their returns. This usually includes sole proprietors and other self-employed individuals, such as gig workers. It may include investors. Partners and S corp shareholders also typically fall into this category. Use the IRS estimator to calculate how much you should pay in estimated taxes: https://bit.ly/3VjGqR1. Contact us with questions. © 2024