Another Payment

Your third payment toward your 2008 tax liability is due September 15. Your payment must be postmarked on or before Monday.

For those who are self employed and/or remit to the government outside of withholdings on payroll checks or investments, they are required to make 4 tax payments to cover their liability.

After working 3 months, the first payment is due 4/15. Then after working April and May, another payment is due 6/15. Then after three more months of earnings, a payment is due 9/15. Then after working September, October, November, and December, the final tax payment is due January 15 of the following year.

Most Americans have taxes withheld from each paycheck so the flow is even over the year and tied directly to earned income. Some Americans who are retired and/or have investments that create income make these four tax payments over the calendar year.

Just a reminder that Uncle Sam (and most states) want their cut of your last 3 month's of income on Monday. Then they'll let your work for 4 months before demanding their cut just weeks after Christmas.

'til later