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Advance Tax Due Dates For Individuals

Individuals have a number of tax obligations that must be met by certain dates in order to avoid penalties or interest charges.

Advance Tax Due Dates For Individuals

What are the advance tax due dates for individuals?

Individuals have a number of tax due dates each year, which can vary depending on the taxpayers' individual circumstances. Here are the key advance tax due dates for individuals in 2018:
- First Quarter (January – March): Tax is due by the 15th day of the fourth month.
- Second Quarter (April – June): Tax is due by the 20th day of the sixth month.
- Third Quarter (July – September): Tax is due by the 25th day of the ninth month.
- Fourth Quarter (October – December): Tax is due by the 30th day of the 12th month.
If an individual does not file their taxes on time, they may be subject to penalties and interest, which can add up over time.

Who is affected by the advance tax due dates?

Who is affected by the advance tax due dates? Generally, individuals who have taxable income and owe taxes on that income are affected by the advance tax due dates. However, there are some exceptions to this rule. For example, certain businesses and professionals may have different due dates depending on their taxable income.
Here are the general advance tax due dates for individuals:

Taxpayers who have taxable income but do not receive a W-2 from their employer usually have to file their taxes by April 15th of the year following the year in which they earned the taxable income.

If you are an individual who files a joint return with your spouse or partner, you both must file your taxes by April 15th of the year following the year in which you earned the taxable income.

When are the advance tax due dates?

Individuals who have income or other taxable assets during the year may be required to file an advance tax by the due date shown below. The due date varies depending on the type of tax obligation. Many taxpayers may be able to file their taxes early, using one of the numerous extensions available. However, some taxes, such as social security and Medicare taxes, must be paid by the due date.
The following is a list of advance tax due dates for individuals:

Taxpayers with net income from employment (wages, tips, commissions, etc.

How to calculate the advance tax due date?

If you have income that is subject to taxation, you will need to know the advance tax due date. The advance tax due date refers to the day on which your tax obligations for that year are due. Taxable income is generally taxable at different rates, and these rates can change from year to year. This means that your taxable income for a given year may be lower than what you actually paid in taxes on that income during the previous year. In order to avoid owing taxes on this lower amount, you need to know your advance tax due date.
In order to calculate your advance tax due date, you first need to figure out how much of your taxable income is subject to a particular rate. This information can be found in IRS Publication 590 or on IRS website at www.irs.gov/pub/irs-590/.

Conclusion

Individuals who have not paid their taxes by the tax due date may be subject to penalties and interest. Early payment may also result in a lower penalty rate.

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