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In IR-2019-152, the Service reminded certain taxpayers the third quarter estimated tax payment is due on September 16, 2019. The fourth quarter's estimated tax payment for tax year 2019 will be due on January 15, 2020.
Most investors, self-employed individuals and workers in the sharing economy do not have wage withholding, but instead must make quarterly estimated tax payments. The IRS explained, "The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, fundamentally changed the way tax is calculated for most taxpayers, including those with income not subject to withholding."
Most of... More