Quarterly Estimated Taxes Deadlines

I’m tax attorney Steve Klitzner. My practice is limited solely to representing individuals and businesses with IRS problems.

One misconception that people have is that the April 15th deadline is for filing and paying your taxes. But it’s not. April 15th is the deadline for filing your taxes, but you have to pay your taxes during the calendar year when you’re making the money.

In 2012, you really can’t wait until 2013 to pay your taxes. You must pay it during the year. People who work for someone, W-2 wage earners, they have taxes withheld.

But independent contractors need to pay estimated quarterly taxes throughout the year. And if you have an IRS problem, and you’re not making those estimated payments, the IRS won’t make a deal with you. They’ll continue to levy your wages, and they’ll levy your bank account.

One of the first things we do, after we make sure all the returns are filed, is that our clients are paying in during the current calendar year. Then we’re in a position to make a deal with the IRS.

I’m attorney Steve Klitzner. If you have any other questions, please contact me below: (305) 564-9199.