Tax Tips: Final 2024 quarterly estimated tax payment due Jan. 15
WASHINGTON – The Internal Revenue Service today encouraged taxpayers who paid too little tax in 2024 to make a fourth quarter estimated tax payment on or before Jan. 15, 2025.
Income taxes are pay-as-you-go, meaning taxpayers must pay most of their tax throughout the year in which their income is earned or received. Usually this is done by withholding tax from paychecks or by making quarterly estimated tax payments to the IRS (or by a combination of both).
However, taxpayers who pay quarterly sometimes overlook this step, and missing a quarterly payment can result in unexpected penalties and fees when they file their returns in 2025.
Who needs to make a payment?
Taxpayers who earn or receive income that is not subject to tax withholding, such as self-employed people or independent contractors, should pay their taxes quarterly to the IRS.
Taxpayers who owed on their most recent return may find they owe again when they file the following year and should consider making an estimated quarterly payment to avoid a potential tax bill or penalty.
Taxpayers in this situation normally include:
• Those who itemized in the past but are now taking the standard deduction.
• Two wage-earner households.
• Employees with non-wage sources of income such as dividends.
• Those with complex tax situations.
• Those who failed to increase their tax withholding.
... See MoreSee Less
【全國新聞】由2025年5月起民眾必須出示Real ID真實身份證或護照，才能通過機場安檢並且登機。
同普通身份證不一樣，Real ID真實身份證的右側上面有一顆星，由2025年5月7號起，民眾過安檢時必須出示真實身份證，否則就要出示護照或加強版駕照，才可以登機。
www.ktsf.com/2024/12/31/real-id-deadline-3/
#ktsf26 #realid #旅遊 #美國
... See MoreSee Less
Happy Holidays! Starting 12/23/2024, we are going to upgrade our computers and internet systems. Therefore, there might be some service interruption. Please kindly call our office 415 421 2111 and make appointment prior your visit. In addition, the center will be closed on 12/25/2024 and 1/1/2025. All services will be back to normal on 1/2/2025. Thank you for you attention and wish you have a wonderful holidays!
... See MoreSee Less
