IRS Alert: Third Quarter Estimated Tax Payment Due Soon, Penalties for Delays

The IRS has issued a reminder that the third estimated tax payment for 2024 is due on September 16, with extended deadlines available for disaster-affected taxpayers in 17 states, including Florida.  Individuals with income not subject to withholding, such as gig workers and sole proprietors, must make estimated payments if they expect to owe $1,000 or more in taxes. The agency remarked that taxpayers should be aware that underpayment, late, or missed estimated payments can result in penalties, even if they are due a refund when filing their return. Taxpayers in all or parts of Florida have until Feb. 3, 2025, to make their estimated tax payment.

If you would like to read more, please visit: https://www.irs.gov/newsroom/irs-reminder-third-estimated-tax-payment-due-sept-16-disaster-area-taxpayers-have-more-time