Important Dates for 2024 Quarterly Tax Payments

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Tax Payments

Freelancers and company owners are getting ready to deal with their quarterly tax payments for 2024 as we approach the new year. It is essential to comprehend the deadlines for these payments in order to prevent fines and guarantee adherence to IRS guidelines. In order to optimize tax savings, freelancers and business owners should read this post, which will cover the crucial dates for 2024 quarterly tax payments. Companies issue a 1099-NEC to all its freelance workers to report their non-employee compensation for the year.

Quarterly Tax Payments: What Are They?

Self-employed people, independent contractors, and business owners make quarterly tax payments to satisfy their tax obligations for the year. Self-employed people are in charge of making these quarterly payments, as opposed to workers who have taxes deducted from their paychecks. Income tax, self-employment tax, and any other applicable taxes are included in these payments.

Important Dates for 2024 Quarterly Tax Payments

In 2024, the IRS will have specified dates for quarterly tax payments. These payments are due on the following dates:


April 15, 2024: Payment for the First Quarter

2. Payment for the Second Quarter, June 15, 2024

3. Payment for the Third Quarter, September 15, 2024

Section IV: Fourth Quarter Payment - January 15, 2025


Remember that if these dates fall on a weekend or holiday, they can change a little. The deadline is usually extended to the following working day in such circumstances.

Difficulties Freelancers and Entrepreneurs Face

When it comes to submitting their taxes and optimizing their tax savings, freelancers and business owners frequently encounter difficulties. Accurately assessing their tax liability is one of the primary challenges. They can wind up owing more taxes than expected if they don't prepare and forecast properly, which could result in penalties and interest.


In addition, for independent contractors, maintaining tabs on earnings and outlays throughout the course of the year can be an overwhelming undertaking. If they don't maintain accurate records, they can lose out on important credits and deductions that could reduce their tax obligation.

Resources to Aid with Filing Quarterly Taxes

The IRS provides a number of tools and services to help business owners and freelancers figure out their IRS estimated tax payment on time each quarter. The self-employment tax estimator is one such tool that enables people to compute their self-employment tax and ascertain the amount they must pay each quarter.


The IRS also offers instructions on how to pay anticipated taxes, with options for online, direct debit, and cheque payments. Self-employed people can remain on top of their tax requirements and avoid penalties by making use of these tools and resources.


Making your quarterly tax payments is a crucial component of handling your tax responsibilities as a business owner or freelancer. You may make sure that you comply with IRS requirements and optimize your tax savings by learning the important dates for these payments in 2024 and making use of the tools and resources that are accessible.


To successfully manage the complications of quarterly tax payments, keep thorough records, make advance plans, and seek professional assistance when necessary. You may prevent costly errors and fulfill your tax responsibilities on time by being proactive and knowledgeable throughout the year.


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