Tax Services Archives - Wouch Maloney CPAs & Business Advisors

Tax Deadlines, Reminders and New Fraud Reporting Page

March 2, 2026/in Tax Services /by Wouch Maloney Team

March has arrived and we want to provide upcoming dates for tax deadlines and reminders taking place in 2026.

S Corporations, Partnerships, LLCs

The deadline to file a return or file an extension for S Corporations, Partnerships and LLCs is Monday, March 16, 2026. Keep in mind if you owe taxes and file an extension, you must estimate and pay any taxes due by the March 16^th deadline to avoid penalties. If you file an extension, the extended deadline to file your return is Tuesday, September 15, 2026.

C Corporations, Sole Proprietors

The deadline to file a return or file an extension for Corporations and Sole Proprietors is Wednesday, April 15, 2026. An estimated payment of any tax owed is required on April 15^th whether you file on time or file for an extension, which will be due on Thursday, October 15, 2026.

Individuals

The deadline to file a tax return and pay any taxes owed for individuals is Wednesday, April 15, 2026. If you file an extension, an estimated payment of taxes owed is still due on April 15^th and the extension is due on Thursday, October 15, 2026.

Quarterly Estimated Tax Payment Due Dates

The IRS provides the following explanation for estimated tax purposes. The year is divided into four payment periods. Each period has a specific payment due date. If you don’t pay enough tax by the due date of each payment period, you may be charged a penalty even if you’re due a refund when you file your income tax return at the end of the year.

You may pay online, by phone or from your mobile device using the IRS2Go app. Visit Make a payment to view all payment options.

Payment Period	Due Date
January 1 – March 31, 2026	April 15, 2026
April 1 – May 31, 2026	June 15, 2026
June 1 – August 31, 2026	September 15, 2026
September 1 – December 31, 2026	January 15, 2027

Where’s My Refund

Once your tax return is filed, you may check the status of your refund with the Where’s My Refund tools on the IRS website. To check your refund, please click here.

New Fraud Reporting Page on IRS Website

On February 26, 2026, the IRS launched a new web page to streamline reporting of tax fraud, scams, identity theft, fake IRS messages or to report a tax return preparer who file a fraudulent return without your consent. The IRS wants you to report this information as soon as possible so they may investigate and stop any illegal activities.

Visit https://www.irs.gov/help/report-fraud to report fraud directly to the IRS.

Should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

DISCLAIMER: All communications by Wouch, Maloney & Co., LLP intend to provide general information, as of the date of the communication, and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. Please be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.

Tax Updates and Resources for 2026

January 20, 2026/in Tax Services /by Wouch Maloney Team

As 2026 begins, all of us here at Wouch Maloney are continually grateful for the opportunity to serve you. We hope that you enjoyed the holiday season and had a chance to spend time with family and friends. As your trusted business advisors, we are here to assist you with navigating the ever-changing tax laws.

Items of Note

On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “Act”) into law. There are several provisions specific to 2025 that could impact your tax filing, including, but not limited to the following:

State and Local Tax Deduction

For 2025, the Act increased the itemized deduction for state and local taxes from $10,000 to $40,000. The deduction is reduced for those with modified adjusted gross income (“MAGI”) over $250,000 (married filing separately) and $500,000 (all other tax filers). The deduction is capped at $10,000 for taxpayers with MAGI over $600,000. For tax years 2026 through 2029, the cap increases by an additional 1 percent of the prior year limit. In 2030, the state and local tax deduction reverts to the previous $10,000 cap, barring future legislation.

Car Loan Interest Deduction

For tax years 2025 through 2028, individuals may deduct interest paid on a loan used to purchase a qualified vehicle for personal use. The maximum deduction is $10,000 per year. The deduction is reduced by $200 for every $1,000 that your MAGI exceeds $100,000 ($200,000 for joint filers). Qualified vehicles include new cars, pick-up trucks, vans, minivans, sports utility vehicles and motorcycles with a gross vehicle weight of less than 14,000 pounds. Final assembly of eligible vehicles must in the United States. Taxpayers can verify the location of final assembly by checking the vehicle’s VIN through the National Highway Traffic Safety Administration (NHTSA) VIN Decoder.

No Tax on Overtime

The Act introduces a temporary above-the-line deduction for qualified overtime pay . This deduction applies to the “half” portion of “time-and-a-half” compensation as required by the Fair Labor Standards Act. For tax years 2025 through 2028, taxpayers can deduct up to $12,500 (single) or $25,000 (married filing jointly). The deduction phases out for taxpayers with MAGI above $150,000 (single) or $300,000 (married filing jointly), decreasing by $100 for every $1,000 of MAGI over these thresholds.

No Tax on Tips

For employees in occupations where tipping is customary, the Act permits an annual above-the-line deduction up to $25,000 from federal income tax for 2025 through 2028. The deduction is available to both employees and certain self-employed individuals. Similarly, the deduction phases out for taxpayers with MAGI above $150,000 (single) or $300,000 (married filing jointly), decreasing by $100 for every $1,000 of MAGI over these thresholds.

Note that tip and overtime income are still subject Social Security and Medicare taxes.

Deduction for Seniors

For tax years 2025 through 2028, taxpayers age 65 or older are eligible for a new above-the-line deduction of $6,000 ($12,000 for eligible married couples). The deduction is phased out by 6% of MAGI above $75,000 (single) or $150,000 (for joint filers).

Tax Guide (Facts) Chart

To start out the new year, we have included the 2026 Tax Guide on our Resources Page. The chart lists the various federal, state, and local tax rates and limits for payroll taxes, individual income taxes and other tax-related data.

Resources Page

As information for 2026 is made available, we will continuously update the Resources Page on our website. Additional items include the 2026 earned income and business privilege tax rates by county and 2026 income tax due dates.

Keeping Up To Date

Please continue to visit our website and opt-in for our weekly updates for breaking news or important tax law changes. Also, if you are on social media, please follow us on LinkedIn, Facebook, Instagram or X (formerly known as Twitter).

Should you have questions on any matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

We wish you all the best for a happy, healthy and prosperous new year.

Suzanne Feldman, CPA, MT, Sweta Joshi, CPA and Andre Thickening, EA, MST, CEPA® contributed to this article.

DISCLAIMER: The WM Update, WM Wednesday Wisdom, WM Daily Update, and other related communications are intended to provide general information, as of the date of this communication, and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.

Important Tax Dates and Filing Information for 2026

January 9, 2026/in Tax Services /by Suzanne Feldman

The 2026 tax filing season will begin on Monday, January 26, 2026. In order to help you prepare for tax season, we have a few reminders and tips to help streamline the process.

Verify and Update Identification Numbers

Prior to sending your tax information to us, please be certain to verify and update the following information:

Identity Protection Personal Identification Number (IP PIN) for the 2026 tax season. Your IP PIN is valid only for federal income tax returns and this number changes annually.
Social Security Numbers (for you and family members)
Individual Taxpayer Identification Numbers (ITIN)
Adoption Taxpayer Identification Numbers (ATIN)
Direct Deposit and/or Direct Payment information

Income Records

If you have multiple sources of income, make certain you have the correct records and forms documenting the income earned in 2025 including:

W-2
1099
Schedule K-1

You may receive 1099 income forms for dividends, interest, retirement plans, pension plan distributions, certain disability benefits, income earned from gig employment, freelance work, royalties, digital assets, debt cancellation, or unemployment compensation.

Deadlines for Business Returns

If you are a member of a partnership or a shareholder in an S corporation, the deadline for filing these business returns is Monday, March 16, 2026.

Calendar-year C corporation tax returns are due Wednesday, April 15, 2026.

Deadline for Individual Returns

Wednesday, April 15, 2026, is the federal deadline for individual returns.

Estimated Payments for Individuals

The first quarter estimated tax payment for Individuals is due April 15^th. See below for all 2026 estimated tax payment dates.

Quarterly Estimated Tax Payment	Due Date
First quarter	April 15, 2026
Second quarter	June 15, 2026
Third quarter	September 15, 2026
Fourth quarter	January 15, 2027

Where’s My Refund?

The IRS updates their information each day on the Where’s My Refund tool. To check the status of your refund, click here. You will need your SSN or ITIN shown on your tax return to access this information.

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

4th Quarter Estimated Taxes Due January 15th

January 7, 2026/in Tax Services /by Wouch Maloney Team

If you pay estimated taxes, keep in mind that your fourth-quarter tax payment for 2025 is due on January 15, 2026.

Tax Withholding Estimator

In order to avoid underpayment penalties, the IRS provides a Tax Withholding Estimator to help determine your federal income tax withholding. This tool will be back online on January 17, 2026, for planned maintenance. After that date, to use the tool, click here.

Paying Your Taxes

The IRS offers numerous methods to pay your taxes.

You may pay your quarterly taxes online from a bank account. This option allows you to pay now or schedule payments up to a year in advance.

For individuals and businesses, you may pay via debit card, credit card or digital wallet. Keep in mind that processing fees do apply.

Pay from IRS Account

If you have an IRS account, you may sign in or create an account. This option allows you to pay now or schedule a payment.

Other Payment Options

Same-day wire — Bank fees may apply
Check or money order — Through U.S. mail (Note changes with postmark)
Cash — Through a retail partner and other methods
Electronic funds withdrawal — During e-filing only

Keep in mind, if you do not pay taxes “as you earn,” you will not only have a large tax bill facing you on April 15, 2026, but also penalties and interest for underpaying your taxes throughout the year.

Notice to taxpayers presenting checks

When you provide a check as payment, you authorize the IRS to either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. When the IRS uses information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day we receive your payment, and you will not receive your check back from your financial institution.

Larger payments

The IRS cannot accept single check or money order amounts of $100 million or more. You can submit multiple payments to the IRS or make a same-day wire payment.

Questions?

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us today.

DISCLAIMER: All communications by Wouch, Maloney & Co., LLP intend to provide general information, as of the date of the communication, and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, of the information provided. Please be aware that this is not a comprehensive analysis of the subject matter covered and it is not intended to provide specific recommendations to you or your business with respect to the matters addressed.

IRS Guidance on Overtime and Tip Deductions for 2025

December 16, 2025/in Tax Services /by Julie Shennard

The One Big Beautiful Bill (OBBB) introduced new deductions for qualified overtime and tip income, effective for tax years beginning after December 31, 2024, and before January 1, 2029. We would like to share recent IRS guidance which outlines both employer and employee requirements related to the calculation and reporting of these amounts for 2025.

Overtime Deduction

For tax years 2025–2028, taxpayers may deduct up to $12,500 ($25,000 for joint filers) of qualified overtime compensation, subject to phaseout for modified adjusted gross income (MAGI) above $150,000 ($300,000 for joint filers). Married taxpayers must file jointly to claim the deduction. Both itemizers and non-itemizers are eligible.

Qualified overtime compensation refers to the portion of overtime pay required under the Fair Labor Standards Act (FLSA) that exceeds the regular rate of pay—essentially the “half” in time-and-a-half.

Example: An hourly employee earning $20/hour works 10 overtime hours at $30/hour, totaling $300. Of this, $200 reflects regular pay and is not deductible; only the $100 premium qualifies.

Employer Reporting

Employers must report qualified overtime compensation on employees’ W-2 forms. Businesses must also report this information for non-employees on applicable 1099 forms. For 2025, because forms will not be updated, employers and payors may use any reasonable method specified by the IRS to approximate and report qualified overtime compensation such as:

Identifying the FLSA overtime premium (the “half” portion of “time-and-a-half”) directly from payroll data.

If only total aggregate overtime pay is available, estimating the premium by dividing by 3 (time-and-a-half) or by 4 (double-time).
Applying proportional calculations for special FLSA rules.

Employers are encouraged (but not required) to provide employees with a separate accounting of qualified overtime compensation, such as through a supplemental statement, an online portal, or Box 14 of the W-2. Providing a supplemental statement or letter to employees is advised if the exact figure is uncertain.

Employee Calculations: When qualified overtime compensation is not provided in box 14 of Form W-2 or on a separate statement, employees can calculate their own qualified overtime using earnings or pay statements, invoices, or similar documents, applying a reasonable method.

Tip Deduction

Individuals in occupations that customarily received tips before December 31, 2024, may deduct up to $25,000 annually, subject to phaseout for MAGI above $150,000 ($300,000 for joint filers).

For 2025, separate reporting of qualified tips and occupation on W-2 is not mandatory; employers should use reasonable methods to track and approximate tip amounts and are encouraged to use Box 14 or supplemental statements to communicate this information to employees. Employers should be preparing for mandatory reporting in 2026.

For 2025, employees can determine qualified tips using:

Social Security tips reported in Box 7 of Form W-2.
Tips reported on Forms 4070.
Cash tips shown in Box 14 or supplemental statements.
Amounts from Form 4137 filed with their tax return and included as income.

Note. Employees are responsible for determining if their occupation is one that customarily and regularly received tips on or before December 31, 2024.

Non-employees may rely on amounts reported on Forms 1099-MISC, 1099-NEC, or 1099-K and supporting documentation such as receipts or tip logs.

The IRS has provided penalty relief for 2025 for good faith errors or omissions related to the new reporting fields.

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

2025 Year-End Tax Planning for Individuals

November 25, 2025/in Tax Services /by Sweta Joshi

Tax planning is one of the most important steps an individual taxpayer can take to take full advantage of new and expanded tax benefits, lower your taxable income, and set yourself up for a stronger financial position in the year ahead. A little preparation before December 31 can go a long way toward reducing your tax bill.

Maximize Your Retirement Contributions

Making the most of your retirement savings is one of the most effective ways to reduce your taxable income. Here are the updated limits for 2025:

401(k), 403(b), 457(b), and SARSEP Plans: You can contribute up to $23,500, with an additional $7,500 catch-up contribution for those aged 50 and older, or $11,250 for ages 60–63.
SIMPLE IRA: The limit is $16,500 (or $17,600 for small employers), plus a $3,500 catch-up contribution ($5,250 for ages 60–63).
SEP or Profit-Sharing Plans: You can contribute less of $70,000 or 25% of your compensation.
Traditional or Roth IRA: Annual contribution limits are $7,000, with an extra $1,000 catch-up for those 50 and older.
Health Savings Accounts (HSAs): If you’re enrolled in a high-deductible health plan, individuals can save up to $4,300, and families up to $8,550. Those aged 55+ can contribute an extra $1,000. If both spouses are over 55 and HSA-eligible, each may add the additional amount to their own account.

Adjust Your W-4

Fine-tuning your tax withholding can help you avoid surprises at tax time.

Owed a big balance last year? Increase your withholding to stay on track.
Got a large refund? You might prefer more take-home pay during the year — simply reduce your withholding.
You can update your W-4 anytime. Download the form from the IRS website, complete it, and submit it to your HR or payroll department. Many employers also allow online updates.

Maximize Your Deductions

Your financial situation changes from year to year, so it’s worth revisiting whether itemizing or taking the standard deduction makes more sense. You can switch between these methods annually.

If you plan to itemize, consider timing certain expenses strategically — for example, you could “bunch” charitable donations into a single year to exceed the standard deduction threshold.

For 2025, the standard deduction is $15,000 for single filers and $30,000 for married couples filing jointly. If you’ve bought a home or had significant medical expenses this year, itemizing might offer better tax savings.

Five main categories of itemizable deductions include:

Medical expenses
Mortgage interest
State and local taxes
Charitable contributions
Casualty and theft losses from federally declared disasters

Remember: Medical expenses are deductible only when they exceed 7.5% of your Adjusted Gross Income (AGI). Grouping expenses into one year can help you reach that limit. Keep detailed receipts and records to make itemizing simpler and more accurate.

Plan for Expiring Energy and Vehicle Credits

Complete energy-efficient home improvements before certain credits expire after 2025.
You may be eligible to deduct up to $10,000 of interest on qualifying auto loans initiated after December 31, 2024.

Avoid Underpayment Penalties

To prevent penalties, make sure your withholdings or estimated payments cover at least 110% of your prior year’s tax liability or 90% of your 2025 tax liability — whichever is less. Don’t forget to include net investment income tax in your estimates.

Passive Activity Considerations

If you’d like to classify one or more business or trade activities as nonpassive, keep thorough and contemporaneous records showing how much time you spent and the type of work you performed. Accurate documentation helps ensure proper tax treatment.

Final Thoughts

Be mindful of recent legislative updates — such as the exclusion of qualified tip income, overtime pay adjustments, an additional $6,000 deduction for seniors aged 65+, and the new auto loan deduction. Running a quick tax projection can show how these changes might affect your overall tax picture.

By staying organized and taking a proactive approach, you can make the most of the opportunities 2025 has to offer. Thoughtful planning now can help minimize your taxes, take advantage of valuable credits, and keep your financial goals on track for the future.

As always, should you have questions about year-end tax planning for individuals or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

Social Security Benefits and Wage Base Increases for 2026

November 12, 2025/in Tax Services /by Wouch Maloney Team

As we continue our year-end reminders and updates, we want to make certain to provide updated figures released by the Social Security Administration (SSA) for the cost-of-living adjustment (COLA) and 2026 wage base.

Cost of Living Adjustment

In October, the SSA announced a 2.8% cost-of-living adjustment for 2026. This increase will be reflected in the January 2026 payments to Social Security recipients.

Social Security Wage Base

Other adjustments taking effect in January include an increase in the maximum amount of earnings subject to Social Security tax. The maximum taxable wage base is $184,500, an increase of $8,400. In 2025, the wage base was $176,100.

Wages up to this threshold are subject to payroll taxes of 6.2% – a maximum of $11,439. Wages in excess of the $184,500 are not subject to this withholding or the employer’s portion of payroll taxes. Note that there is no maximum wage base for Medicare tax withheld from pay.

2026 Social Security benefits increase 2.8% for COLA

2026 Social Security wage base $184,500

To read the entire press release, please click here.

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

2025 Year-End Tax Planning for Businesses

November 4, 2025/in Tax Services /by Wouch Maloney Team

With the extended deadlines now in the rearview mirror it is the perfect time to take a strategic look at year-end tax planning. Proactive preparation can help reduce tax burdens, improve cash flows, and position companies for long-term success. With the passage of the One Big Beautiful Bill Act (OBBBA), several key tax provisions are changing, many of which will directly affect upcoming filings. Below are some important areas to review before year-end.

1. Schedule a Meeting with Your CPA

Now is the time to connect with your CPA to review your financial position and plan strategically for tax season. A year-end tax planning meeting helps prevent surprises and allows for proactive adjustments. With the OBBBA introducing updates to bonus depreciation, Section 163(J) interest limitations, and R&D expense rules, modeling the impact of these provisions can reveal new opportunities and help you plan accordingly for cash flow or investment purposes.

2. Reconcile Bank Accounts and Review Accounting Records

Accurate records are the foundation of effective tax planning. Perform bank reconciliations and thoroughly review your accounting files to ensure all income and expenses are properly recorded. Look for unusual balances, make necessary adjustments, and resolve discrepancies promptly. Clean, reconciled books not only simplify tax preparation but also provide a solid base for implementing year-end tax-saving strategies.

3. Maximize Depreciation

If your business has acquired, built, or renovated real estate, a cost segregation study can accelerate depreciation deductions and enhance cash flow. By reclassifying certain components—such as lighting, flooring, and landscaping—from real property to shorter-lived personal property, businesses can take advantage of faster depreciation schedules (5, 7, or 15 years).

WM Wisdom:
Coordinate Section 179 and bonus depreciation to maximize deductions and think about how it will impact your state and local tax returns.

100% Bonus Depreciation

Under the OBBBA, 100% bonus depreciation has been permanently reinstated for qualified property acquired and placed in service after January 19, 2025.

Property placed in service between January 1–19, 2025 qualifies for a 40% bonus depreciation rate.
Section 179 expensing limits for 2025 are $2,500,000, phasing out after $4,000,000, and fully eliminated at $6,500,000.
Section 179 applies on an asset-by-asset basis, while bonus depreciation applies to all assets within a class unless the taxpayer elects out.

4. Review Eligibility for Business Tax Credits

Don’t overlook valuable business tax credits that can directly reduce your tax liability. The research credit rewards businesses for increasing qualified research activities.

Energy credits, such as the energy credit (IRC Sec. 48), clean electricity investment credit (IRC Sec. 48E), and clean electricity production credit (IRC Sec. 45Y), are available for investments in renewable energy and energy-efficient property. However, many energy credits are being phased out or terminated after 2025 due to recent OBBB legislation, especially those for clean vehicles, alternative fuel property, and residential clean energy. Hiring credits, such as the work opportunity credit (IRC Sec. 51) and empowerment zone employment credit (IRC Sec. 1396), incentivize hiring from targeted groups and are also set to expire after 2025. Review your eligibility for these credits now, as timely action may be required to capture expiring incentives.

5. Entity-Specific Year-End Considerations

S Corporations:
Ensure reasonable compensation is paid to shareholder-employees. Review basis and at-risk limitations to ensure losses can be fully utilized. Year-end capital contributions or shareholder loans can increase basis if needed.

Partnerships:
Optimize allocations, confirm partners have sufficient basis and at-risk amounts for loss deductions. Making additional contributions or adjusting debt shares before year-end can help fully utilize available deductions.

Final Thoughts

With the evolving tax landscape under the OBBBA, early preparation and strategic guidance from your CPA are more valuable than ever. At Wouch Maloney, we understand that navigating year-end tax planning can be complex, especially with the new tax rule changes. Our team of experienced professionals is here to help you develop strategies tailored to your business’s unique needs.

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

IRS Phasing Out Paper Checks for Tax Refunds Beginning 9/30/2025

October 1, 2025/in Tax Services /by Wouch Maloney Team

Individual taxpayers who have not yet switched to electronic refunds will need to update their refund preferences with the IRS as soon as possible. On September 30, 2025, the U.S. Treasury will begin the process of phasing out the issuance of paper checks for all federal disbursements, beginning with tax refunds for individuals.

During the 2025 tax filing season, 7% or 6.5 million individual taxpayers received a paper check refund by mail.

Alternative Ways to Receive Your Refund

The quickest way to receive your tax refund is by providing your banking information to the IRS for direct deposit to a checking, savings or retirement account. Taxpayers are permitted to split their refund up to a maximum of three separate accounts.

Other options available include:

Prepaid debit card: Check with your bank or card provider to see if your card will work and which account numbers to use.

Mobile payment apps: Some apps accept direct deposits.

Traditional, Roth or SEP-IRA: Deposit into your existing IRA account.

Concerns and Impacts of Electronic Refunds

The goal of transitioning to paperless disbursements is to enhance the speed, safety and reliability of federal payments; yet certain professional organizations have voiced concerns about the transition. One concern is the use of a prepaid cards for tax refunds. If there is a problem issuing a refund via a prepaid card, the cost to replace it will be more expensive than issuing a paper check. Another concern is how this will affect taxpayers living abroad. The IRS does not permit tax refunds via direct deposit to a non-U.S. bank.

If you are currently expecting a tax refund via paper check, you will want to visit the IRS website and use the Where’s My Refund tool.

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us to speak with a CPA today.

Third-Quarter Estimated Taxes Due September 15th

September 3, 2025/in Tax Services /by Wouch Maloney Team

If you pay estimated taxes, keep in mind that your third-quarter tax payment is due on September 15th.

First Time Making Quarterly Payments

If you are new to making quarterly tax payments, remember that taxes must be paid either through withholding or estimated tax payments as income is earned.

For individuals whose primary income source is a salary or pension, your withholdings may be sufficient, and you may not need to make estimated tax payments. However, if you have significant earnings from sources where tax is not withheld—such as interest, dividends, capital gains, alimony, or self-employment income—you will likely need to make estimated tax payments to avoid penalties for underpayment.

Estimated taxes must be paid if you expect to have a tax liability of $1,000 or more when you file your return.

Tax Withholding Estimator

In order to avoid underpayment penalties, the IRS provides a Tax Withholding Estimator to help determine your federal income tax withholding. To use the tool, click here.

Paying Your Taxes

The IRS offers numerous methods to pay your taxes.

You may pay your quarterly taxes online from a bank account. This option allows you to pay now or schedule payments up to a year in advance.

For individuals and businesses, you may pay via debit card, credit card or digital wallet. Keep in mind that processing fees do apply.

Pay from IRS Account

If you have an IRS account, you may sign in or create an account. This option allows you to pay now or schedule a payment.

Other Payment Options

Same-day wire — Bank fees may apply
Check or money order — Through U.S. mail
Cash — Through a retail partner and other methods
Electronic funds withdrawal — During e-filing only

Questions?

As always, should you have questions on this or other matters affecting you or your business, please call 215.675.8364 or email us today.

DISCLAIMER: All communications by Wouch, Maloney & Co., LLP intend to provide general information, as of the date of the communication, and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, of the information provided. Please be aware that this is not a comprehensive analysis of the subject matter covered and it is not intended to provide specific recommendations to you or your business with respect to the matters addressed.

S Corporations, Partnerships, LLCs

C Corporations, Sole Proprietors

Individuals

Quarterly Estimated Tax Payment Due Dates

Where’s My Refund

New Fraud Reporting Page on IRS Website

Tax Withholding Estimator

Paying Your Taxes

Pay from IRS Account

Other Payment Options

Notice to taxpayers presenting checks

Larger payments

Questions?

Overtime Deduction

Employer Reporting

Tip Deduction

Maximize Your Retirement Contributions

Adjust Your W-4

Maximize Your Deductions

Five main categories of itemizable deductions include:

Plan for Expiring Energy and Vehicle Credits

Avoid Underpayment Penalties

Passive Activity Considerations

Final Thoughts

Alternative Ways to Receive Your Refund

Concerns and Impacts of Electronic Refunds

First Time Making Quarterly Payments

Tax Withholding Estimator

Paying Your Taxes

Pay from IRS Account

Other Payment Options

Questions?

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