January 15, 2017 – 4th quarter 2016 estimated tax due date for the payment period September 1, 2016 – December 31, 2016.
Note that you do not have to make this payment if you file your 2016 tax return by February 1, 2017 and pay the entire balance due with your return.
The IRS requires you to make quarterly estimated tax payments for the calendar year 2016 if both of the following apply:
- you expect to owe at least $1,000 in federal tax for 2016, after subtracting federal tax withholding and credits, and
- you expect federal withholding and credits to be less than the smaller of:
- 90% of the tax to be shown on your 2015 federal tax return, or
- 100% of the tax shown on your 2014 federal tax return (only applies if your 2014 tax return covered 12 months – otherwise refer to 90% rule above only).
About Matthews, Carter & Boyce
Founded in 1947, Matthews, Carter and Boyce is a full-service tax and accounting firm serving clients in the Washington, D.C. and surrounding areas. Located in Fairfax, Virginia, our staff of more than 50 professionals aim to serve our clients as trusted advisors. We specialize in serving closely-held, not-for-profit, government contractors, investment and private equity, real estate and hospitality industries.