The April 15, 2024, Tax Returns Due Date: What Does It Mean for You? April 15, 2024, is the due date for filing individual income tax returns and making tax payments for the 2023 tax year. If you require more time to file, you can request an extension, but remember that this does...
Estimated tax payments for self-employment income (aka “side income”) is new territory for those who have always had payroll done for them through their employer. It’s not necessarily more difficult, but it’s definitely different. Having made estimated payments for income earned through this ...
due by Jan. 16, 2024. If you meet the farming/fishing income threshold and file and pay your taxes by Mar. 1, 2024, you don't need to make any estimated payments.
Did you account for any taxes due on unemployment payments received? If education costs changed over the course of the year, did you reconcile the changes with any qualified withdrawals? The IRS widened tax brackets in 2023, which could result in potentially lower income taxes for many. It ...
"The flip side of this, though, is that it's going to be harder to itemize your deductions in 2023," Steffen said. "That means your tax payments, mortgage interest and charitable contributions are less likely to provide you a tax benefit next year." ...
Thankfully, a safe harbor rule allows taxpayers to avoid estimated tax penalties as long as they pay at least 100% of their previous year’s total tax liability through a combination of tax withholdings and estimated tax payments. Estimated Tax Deadlines ...
If you heard rumblings about changes to theChild Tax Credit (CTC)or other credits, you’re not alone. In fact, based on search data, hundreds of thousands of people were looking for information about CTC payments this year. However, it seems that many taxpayers were reacting to misinformatio...
Folks on the left think it is terrible for nations to be “tax havens.” Since I’vewrittenmanycolumnsdefendinglow-tax jurisdictions (includingthe moral argument), let’s flip the script today and instead look at “tax hells.” The 1841 Foundation has just released the 2023 version of itsTa...
refund for you. Here’s just one example of how filing an old tax return could mean more money in your pocket: In December 2024 the IRS announced it would besending out $1,400 paymentsto about 1 million taxpayers who were eligible for a 2021 stimulus tax credit that they never claimed....
There’s also another deadline on April 15 – estimated tax payments for the first quarter of 2024. If you earn income that isn’t subject to federal tax withholding – such asfrom self-employment, rental property or investments – you need to find another way to pay the IRS during...