As the June 15 deadline for the 2023 second quarter estimated tax payments looms, the Internal Revenue Service (IRS) has issued a reminder to taxpayers, including self-employed individuals, small businesses, corporations, retirees, and investors, to stay current with their taxes.
The estimated tax is the method used to pay taxes on income that isn’t subject to withholding. It’s typically utilized by those who do not have taxes withheld from their income. This could include people who run their own businesses or receive income from investments.
