Paying Estimated Taxes

Paying Estimated Taxes

Wondering about the due dates for paying estimated taxes?  Talk to a Chicago CPA about your tax situation and estimated taxes.  Self-employed taxpayers should make quarterly estimated tax payments to the IRS.  Per the IRS, the due dates for 2016 quarterly estimated tax payments are as follows:

Payment Period                                                               Due Date

  1. January 1 – March 31, 2016                                  April 18, 2016
  2. April 1 – May 31, 2016                                             June 15, 2016
  3. June 1 – August 31, 2016                                       September 15, 2016
  4. September 1 – December 31, 2016                  January 17, 2017

https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/estimated-tax/individuals/individuals-2

Furthermore, self-employed taxpayers must pay federal income taxes, state income taxes and social security taxes.  Therefore, self-employed taxpayers should contact a Chicago CPA regarding estimated taxes and federal income tax issues.