Free 2018 Tax Planning2019-01-05T15:05:52+00:00

Free 2018 Tax Planning

Estimated taxes

The IRS requires that taxpayers pay taxes throughout the year as they earn income. If you are a wage earner, your employer withholds taxes on your behalf and remits to the IRS.

As a self employed person, you are responsible for remitting the payment on your taxable income. This is usually done through estimated taxes. The estimated taxes are remitted quarterly.

The due date for estimated taxes in 2018 are:

  1. First payment: Monday, April 16, 2018
  2. Second payment: Friday, June 15, 2018
  3. Third payment: Monday, September 17, 2018
  4. Fourth payment: Tuesday, January 15, 2019

Failure to pay on time will result in penalties and interest on the late payments.