2023 Quarterly Taxes
As the 2023 quarterly taxes draws closer, it’s important to remember that not everyone is required to pay their taxes once a year. Self-employed individuals, gig workers, and others must pay their taxes quarterly.
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2023 quarterly taxes must be paid on different due dates depending on the earnings period.
These are the deadlines for paying 2023 quarterly taxes:
- April 18th, 2023: due date of first quarter taxes covering earnings from January 1st to March 31st
- June 15th, 2023: due date of second quarter taxes covering earnings from April 1st to May 31st
- September 15th, 2023: due date of third quarter taxes covering earnings from June 1st to August 31st
- January 15th, 2024: due date of fourth quarter taxes covering earnings from September 1st to December 31st
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It’s necessary to calculate your tax liability to ensure that you’re paying the correct amount of taxes for 2023 Quarterly Taxes. Those who fail to pay the required amount of 2023 quarterly taxes may encounter penalties, but those who pay more than the required amount will receive a refund. According to a published article in Marca, if you owe a penalty for underpaying your estimated tax, you can use Form 2210 to calculate and figure out the amount of the penalty.
The most secure and expedient option for paying 2023 quarterly taxes is by using IRS Direct Pay. It allows for the free transfer of funds directly from your bank account to the IRS. You may also opt to pay via debit or credit card, but you will be charged a fee.
In conclusion, understanding the deadlines for paying 2023 quarterly taxes is important to avoid penalties. It is essential to determine your tax liability, take note of the deadlines for tax payments, and utilize the correct channels to ensure timely payments.
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