2021 Taxes – First estimated payment due 4/15/21

2021 Taxes – First estimated payment due 4/15/21

If you are required to pay estimated quarterly taxes, your first payment is due April 15, 2021. Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments to the IRS if they expect to owe tax of $1,000 or more when their return is filed. The threshold for paying estimated state income taxes can vary by state - we can check with your state to see what that is. If you didn’t pay enough through the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated taxes. 2021 estimated taxes are due 4/15/21, 6/15/21, 9/15/21, and 1/17/22.

Contact us if you need assistance determining your estimated tax payment amount or how to submit the payments.

Need Help? Schedule a tax or accounting consultation with us, email info@onlinetaxllc.com to set up a day and time.