If you file forms 1040ES and 540ES, the fourth payment for tax year 2024 estimated tax is due Thursday, January 16.
Rather than mailing a check to the IRS, you may use the online Direct Pay Service. Go to www.irs.gov and click on the box labeled “Make a Payment”. There is no fee to use the online Direct Pay service.
There is also no fee to use the online Web Pay service to pay your Franchise Tax Board California tax. Go to www.ftb.ca.gov. At the top of the screen click on the “Pay” button.
You may also pay your taxes with a credit or debit card. There will be a fee. And of course, you may always pay your tax with a paper check. Just be sure your envelope is postmarked by January 16.
Warning: If you should make estimated tax payments but fail to do so, you will be charged interest on the underpayment. The interest for 2024 is 8%. In 2023, the IRS assessed more than $1.8 billion in penalties for under-paying estimated taxes.
Note: The Senior Resource Services (SRS) office hours for drop-in assistance are Monday, Wednesday, and Friday from 10 a.m. to noon. The SRS office is in the Cribari Center across from the Post Office. You may also leave a message at 408-239-5253 or e-mail SRS at villagessrs@sbcglobal.net. The website is www.thevillagesgcc.com/srs. The purpose of SRS is to provide education and general business and financial information. All assistance is free and confidential. You should ask your professional advisor about your individual situation.
