Summary
The IRS has set a tax deadline on January 15 for people who earn income outside of traditional paychecks. These taxpayers must make quarterly estimated tax payments to avoid penalties. This includes self-employed individuals, contractors, and gig workers.
Key Facts
- The IRS requires quarterly tax payments from those without regular paycheck withholdings.
- The upcoming deadline for the 2025 tax year is on January 15.
- Penalties and interest may apply if the deadline is missed, even if a refund is due later.
- People required to pay include 1099 workers, gig workers, and some investors.
- Payment is necessary if expected federal taxes owed exceed $1,000 after withholdings.
- Payments can be made online via IRS tools or by mail with specified forms.
- Penalties can be waived for those affected by disasters or other special conditions.
