Quarterly estimated taxes are periodic tax payments made to the IRS (and often state tax authorities) by individuals who receive income without tax withholding. This primarily applies to self-employed individuals, freelancers, landlords, and investors. The IRS operates on a pay-as-you-go system, and estimated payments fulfill this obligation for income that is not subject to employer withholding.
You must make estimated payments if you expect to owe $1,000 or more in federal tax after subtracting withholding and credits. Failure to pay results in underpayment penalties, which are essentially interest charges calculated quarterly.
| Quarter | Income Period | Due Date |
|---|---|---|
| Q1 | Jan 1 – Mar 31 | April 15, 2026 |
| Q2 | Apr 1 – May 31 | June 15, 2026 |
| Q3 | Jun 1 – Aug 31 | September 15, 2026 |
| Q4 | Sep 1 – Dec 31 | January 15, 2027 |
A safe harbor approach is to pay either 100% of your prior year tax (110% if AGI exceeded $150,000) or 90% of your current year tax, divided into four equal payments. For a complete guide to calculating and paying quarterly taxes, see our Quarterly Tax Guide for Freelancers.