 TITLE: 2021 Tax Deadlines You Need to Know CONTENT: January 15, 2021\n----------------\n### Final Estimated Tax Due Date for the 2020 Tax Year\nIf you receive a W-2 from your employer, federal and state income taxes are taken directly from your paycheck before you receive your paycheck and you can ignore this date. Things work a little differently if you're self-employed, however. Whether you run your own business, work as a freelancer or earn extra money with a side gig, the IRS expects you to pay taxes on your earnings. When your tax liability goes above a certain threshold, you'll generally make estimated tax payments to the IRS every quarter. January 15, 2021, is the last day to make your final estimated tax payment for 2020.\nHow much you owe can vary widely, depending on which tax deductions and tax credits you end up claiming when you file your tax return. Another factor is if you live somewhere that levies state taxes. This IRS form can help you make an accurate guess. (It's called \"estimated tax\" for a reason.) A tax professional can also provide personalized guidance. END