Tax Calculator for 2024

Forum|Forum|1 year ago
August 28, 2024
2 replies
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When is the Tax Calculator for 2024 available to estimate taxes for 2024 and determine if a 1040 ES is necessary to send in a payment to the IRS?

Are these Estimated payments for Federal and State?

icalvo

Hi Aviaragirl,

The Turbo Tax calculator is usually available late October.

Here is a link to IRS publication 505 that provides guidance on tax withholding and estimated tax for 2024.

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.irs.gov/pub/irs-pdf/p505.pdf

Yes, estimated tax payments can be calculated and made for both the federal and state.

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kwallace4

Reminder that 2024 ES payments are already due on this schedule below as we are a pay as you go system. You can generate ES coupons in the TurboTax software by jumping to W4 in the search bar. The program will use data from 2023 to estimate your 2024 and it will ask questions about any changes that might affect the next year.

Payment Period	Due Date
January 1 – March 31	April 15
April 1 – May 31	June 15
June 1 – August 31	September 15
September 1 – December 31	January 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax
Fiscal Year Taxpayers	If your tax year doesn't begin on January 1, see the special rules for fiscal year taxpayers in Chapter 2 of Publication 505
Farmers and Fishermen	See Chapter 2 of Publication 505