2020 -12/17 If you haven’t yet thought about your 2020 taxes, or considered your 2021 tax situation, don’t delay having a conversation with us. There may be actions you can still take before the end of the year to make a favorable impact on your tax bill. If you’re an owner of a pass-through entity and pay tax on your share of business profits on your personal income tax return, the final installment of your 2020 estimated taxes is due on January 15, 2021. If you don’t pay enough tax through withholding, you also may need to make estimated tax payments. Make adjustments, if possible, to avoid any underpayment penalties.
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