September 17 Tax Deadline: New Rates, New Rules | AccountingWEB

September 17 Tax Deadline: New Rates, New Rules

For most of America's taxpayers who make quarterly estimated payments, today is the deadline for making third quarter tax payments. The biggest change that will be noticed this quarter is a slight reduction in the tax rates.

Taxpayers who revise their tax calculations on a quarterly basis will want to refer to the revised tax rate schedules that reflect the changes brought about by the Economic Growth and Tax Relief Reconciliation Act of 2001.

Taxpayers who are directly affected by the tragic events of last week, either because the taxpayer is a victim or is involved in the rescue effort, or because the taxpayer works in a disaster area, or the taxpayer's records are maintained in a disaster, should refer to the special relief measures that were released by the IRS last Friday.

Use Form 1040-ES, Estimated Tax for Individuals, for your federal estimated payment. Be sure to mail your estimate to the correct address.

See our list of state revenue agencies if you need forms for your state quarterly estimated payment.

Related stories:

Missed Deadline? IRS Issues Reprieve

Breaking News: IRS Issues Additional Relief Measures

Emergency Tax Relief Bill Passed By House

IRS Waives Penalties Following National Crisis

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.