Selfie Security-Why You'll Need ID.me for IRS Online Account
Let's talk about the IRS's new identity protection process and what it means for tax filing.
ReadEstimated taxes are payments made every quarter by self-employed persons, to make sure their tax liability is covered throughout the year. Estimated tax payments are a sort of self-withholding: Instead of an employer withholding taxes and sending them on the taxpayer’s behalf, self-employed persons do it for themselves.
You don’t have to be self-employed to make estimated tax payments. Any taxpayer who has income sources that do not withhold taxes should consider making quarterly estimated payments in order to avoid an underpayment penalty.
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