Individual Quarterly Estimated Payments in January Rose by a Healthy 8 Percent, and We Expect Robust Growth in Final Payments with Tax Returns in April
Posted on February 12, 2025 The IRS has completed tabulating the amounts of individuals’ January quarterly payments of estimated federal income taxes, the last quarterly payment for the 2024 tax year. Based on information from the U.S. Treasury’s Daily Treasury Statement, we estimate that those payments rose by about 8 percent above the amounts from […]
High Year-End Bonuses Continued to Boost Federal Tax Withholding in January
Posted on February 2, 2025 Federal tax withholding in the months of December and January are often volatile because of the effects of year-end bonuses, and we believe that high growth in year-end bonuses on Wall Street and elsewhere in the past two months have boosted tax withholding. We estimate that federal tax withholding–the combined […]