Hey ,

You may have heard that the IRS is charging 8% interest on estimated tax underpayments, up from 3% two years ago. This is one of the effects of rising interest rates, and it could cost you a lot of money if you don't pay enough taxes throughout the year.

The U.S. tax system is pay-as-you-go, meaning you should make payments as you earn income. This can be done through withholding or by making quarterly estimated tax payments. If you don't do so, you could owe an underpayment penalty, which is essentially interest tied to the federal short-term rate.

If you want to know more about this or want me to file your 2023 tax return, please let me know as soon as possible. Call my office at 202-618-1295 to get started or click the link below.

Hey Entrepreneur! I am Folasade Ayegbusi. I am an Enrolled Agent, Accountant, Ex-insurance Broker, Speaker, and Small Business Growth Strategist. Additionally, I am a Mother, and Entrepreneur.

I have helped entrepreneurs and small business owners save over $25 million dollars in lost revenue, tax assessments, penalties, and interests over the last 12 months. I am confident that I can assist you with all of your accounting needs.