Categorized | Breaking News

Estimated taxes due Jan. 15

Many individuals with income not subject to withholding need to make quarterly estimated tax payments. Estimated tax includes both income tax and self-employment tax. The last payment for 2009 tax year is Jan. 15.

Failure to pay enough tax either through withholding, estimated tax, or a combination of both, may incur a penalty. IRS Publication 505 provides more information on estimated taxes.

Leave a Reply