We wanted to share a friendly reminder that although the tax year 2020 federal tax filing deadline was extended, the tax year 2021 quarterly estimated tax deadlines remain the same.
If you are making quarterly estimated tax payments, your next payment is due by Tuesday, June 15th. If your 2020 return has been filed, we have included the quarterly estimates with your tax package.
If your return is on extension and you would like our assistance in calculating your second quarter estimated tax liability along with the necessary vouchers, please do not hesitate to contact us at (707) 666-0602 or visit our website to book an appointment at www.pearaccountingsolutions.com.
Estimated Tax Responsibilities and Avoiding Underpayment Penalties
The IRS assesses penalties for underpayment of income tax. If you did not pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax.