When Are Quarterly Income Taxes Due ?
Income tax paying is withholding the amount of money that the government deducts as a form of funds for country. But, it is not always compulsory for everyone to earn their salary and deduct the tax then and there. There are also certain categories of employed citizen who do not deduct the tax from their salary and hence, they have to pay their income tax quarterly. |
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Quarterly paying of taxes is targeted at people who do not deduct this amount from their paychecks. These people are required to pay their taxes quarterly. People, who did not deducted their share of tax from their gross income then and there, are required to pay quarterly income tax. These category of people need to pay their income tax in four equal installments. The four due dates to file in the quarterly income tax are April 15, June 15, September 15 and January 15 of the next year. This scheme of payment is specially designed in four parts for people who do not deduct their taxes from their income.
These four dates are very important for tax payers who pay quarterly, and they should keep track and pay their taxes on time to avoid penalty. Quarterly tax payment are strict with their rules and charge penalty if taxes not paid by the given due date. People, who are getting income which does not gets deducted with regulated taxes, are all required to pay their income tax in four quarters. These four dates are important or else, there can be heavy penalty levied on the tax payer.
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