What to Know About 2024 Tax Withholding and Estimated Taxes

What do I have to find out about withholding and estimated taxes?

The U.S. revenue tax is a pay-as-you-go system. The regulation requires most workers and self-employed enterprise house owners to pay a minimum of 90% of their taxes lengthy earlier than the April due date, which for 2023 particular person tax returns is April 15, 2024 (April 17 in Maine and Massachusetts). This due date will be delayed for victims of federally declared disasters.

Can I get an extension to pay my taxes?

Taxpayers can request a six-month extension to file their returns—Oct. 15, 2024, for 2023 returns—however that doesn’t delay the requirement to pay what’s owed by the April due date.