Businesses, corporations, self-employed individuals, retirees, and investors must pay their first quarter estimated tax payment for tax year 2025 on April 15, 2025. Because federal income taxes are pay-as-you-go, the law requires individuals who do not have taxes withheld to pay taxes as their income is received or earned throughout the year.
The IRS encourages taxpayers who paid too little tax in 2024 to make a fourth quarter estimated payment on or before January 15, 2025.
The second quarter estimated tax payment deadline is June 17, 2024. Taxpayers should remember this deadline to avoid falling behind on their taxes and facing possible underpayment penalties. Taxpayers should also remember that third quarter payments are due September 16, 2024, and the final estimated tax payment for tax year 2024 is due January 15, 2025.
The first quarter estimated tax payment for tax year 2024 is due April 15. Estimated payments apply to self-employed individuals, retirees, investors, businesses, and corporations.
Last year was a challenging year. However, 2020 taxes are still due on April 15, 2021. If you underestimated the amount of tax you owe, you may be subject to a penalty.
The April 15, 2020 deadline for filing and paying Arizona and federal income taxes for the 2019 calendar year is July 15, 2020. The Arizona due date for first quarter estimated tax payments has not changed and remains April 15, 2020.