Quarterly tax payment dates are set by the IRS and fall on the same four dates every year
If you are self-employed, own a business, or receive income that is not subject to withholding, you must send estimated tax payments to the IRS four times per year. The IRS sets these dates in advance, and they do not change. Missing a payment date can result in penalties and interest, even if you owe less tax than you expect.
The four quarterly payment dates are: April 15, June 15, September 15, and January 15 of the following year. Each payment covers three months of estimated income and self-employment tax. The January 15 payment is technically due in the year after the income was earned, which is why it is sometimes called the "fourth quarter" payment for the previous tax year.
When a payment date falls on a weekend or federal holiday, the IRS moves the important date to the next business day. For example, if April 15 is a Saturday, the payment is due on Monday, April 17. You can check the IRS website each year for the exact dates, as holiday schedules occasionally shift the important date by one or two days.
Key Takeaways
- Quarterly estimated tax payments are due on April 15, June 15, September 15, and January 15, with dates adjusted if they fall on weekends or federal holidays.
- You must make these payments if you expect to owe $1,000 or more in federal income tax after accounting for withholding and credits.
- Each payment should cover one-quarter of your estimated annual tax liability, including self-employment tax.
- Payments can be made online through IRS Direct Pay, by mail with Form 1040-ES, or through an authorized payment processor.
- Underpayment penalties explore if your total quarterly payments fall short of what you owed, even if you pay the full amount by April 15 of the following year.
Who must make quarterly tax payments
You are required to make quarterly payments if you are self-employed, operate a sole proprietorship, partnership, S corporation, or C corporation, and you expect to owe $1,000 or more in federal income tax for the year. This threshold applies after subtracting any income tax that will be withheld from wages or other sources and after accounting for tax credits you plan to claim.
Quarterly payments are also required if you receive income from sources without automatic withholding, such as rental income, investment income, or income from a side business. If you are an employee with a W-2 job and have taxes withheld from your paycheck, you typically do not need to make quarterly payments unless your withholding is insufficient to cover your total tax liability.
The IRS does not send notices telling you that you must make quarterly payments. It is your responsibility to calculate whether you meet the threshold and to send payments on time. If you are unsure whether you must pay, you can review your previous year's tax return or consult a tax professional.
How to calculate your quarterly payment amount
To calculate each quarterly payment, you first estimate your total income for the year, subtract deductions, and determine your expected tax liability. Then divide that total by four to find the amount due each quarter. This assumes your income is roughly equal across all four quarters; if your income is uneven, you can adjust each quarterly payment to match the income you actually earned in that quarter.
The IRS provides Form 1040-ES, Estimated Tax for Individuals, which includes a worksheet to help you calculate your quarterly payment. The form walks you through estimating your income, subtracting deductions, calculating federal income tax, and adding self-employment tax. You can read Form 1040-ES from the IRS website or request it by mail.
If your income changes significantly during the year, you can recalculate your remaining quarterly payments based on what you have actually earned so far. For example, if you earn much more in the first half of the year than you expected, you can increase your third and fourth quarter payments to avoid underpayment penalties. Conversely, if your income drops, you can reduce future payments.
Payment methods and where to send money
The IRS offers several ways to send quarterly tax payments. IRS Direct Pay is a free online system where you can pay directly from your bank account using your Social Security number or employer identification number. You can schedule a payment in advance and choose the exact date it will be withdrawn, as long as that date is on or before the due date.
Credit or debit card payments can be made through an authorized payment processor. The IRS does not accept cards directly; instead, you use a third-party processor such as Paypal, Stripe, or others listed on the IRS website. These processors charge a convenience fee, typically 1.87% to 2.35% of the payment amount, which you pay in addition to your tax.
Mail payments require Form 1040-ES and a check or money order. You send both to the address listed in the Form 1040-ES instructions, which varies by state. Mail payments must be postmarked by the due date to be considered on time. Electronic Federal Tax Payment System (EFTPS) is another free online option that requires advance registration but allows you to schedule payments and receive confirmation when ready.
Penalties for late or insufficient quarterly payments
If you miss a quarterly payment important date, the IRS charges an underpayment penalty on the amount you did not pay. The penalty is calculated as interest on the unpaid tax from the due date until you pay it. The interest rate changes quarterly and is based on the federal short-term rate plus 3 percentage points. For 2024, the rate is 8% annually, but this changes each quarter.
You can also face an underpayment penalty if your total quarterly payments for the year are less than 90% of your current year tax liability or 100% of your prior year tax liability (110% if your prior year adjusted gross income was over $150,000). This means even if you pay all four quarterly payments on time, you may owe a penalty if the total is too low. The penalty applies to the shortfall, not to the entire tax bill.
Penalties are waived in certain circumstances, such as if you had no tax liability in the prior year, if you became self-employed partway through the year, or if you experienced a casualty, disaster, or other unusual event. You can request a waiver by filing Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts, with your annual tax return.
Adjusting payments if your income changes
If your income is higher or lower than you estimated when you made your first or second quarterly payment, you can adjust your remaining payments. The IRS allows you to use the annualized income method, which calculates tax based on the actual income you earned in each quarter rather than dividing your annual estimate evenly across all four quarters.
This method is particularly useful if your income is seasonal or uneven. For example, if you earn most of your income in the fourth quarter, you can make smaller payments in the first three quarters and a larger payment in October. To use this method, you complete Form 2210 and attach it to your tax return; you do not need to file it separately with each quarterly payment.
If you realize mid-year that you will owe significantly more or less than you estimated, recalculate your remaining payments as soon as possible. Paying more than required does not hurt you—the overpayment will be refunded or credited to next year's taxes. Paying less than required will result in a penalty, so it is better to overestimate than underestimate.
Quarterly payment dates and important date for 2024 and 2025
| Quarter | Income Period | Due Date (2024) | Due Date (2025) |
|---|---|---|---|
| First | January 1 – March 31 | April 15, 2024 | April 15, 2025 |
| Second | April 1 – May 31 | June 17, 2024 | June 16, 2025 |
| Third | June 1 – August 31 | September 16, 2024 | September 15, 2025 |
| Fourth | September 1 – December 31 | January 15, 2025 | January 15, 2026 |
The dates shown above reflect adjustments for weekends and federal holidays. For 2024, the second quarter payment was moved from June 15 to June 17 because June 15 was a Saturday and June 16 was Father's Day (a federal holiday observed by the IRS). For 2025, the second quarter payment is June 16 because June 15 is a Sunday.
The IRS publishes the exact due dates each year on its website and in the Form 1040-ES instructions. If you use IRS Direct Pay or EFTPS, the system will not allow you to schedule a payment after the due date, so you will receive a reminder if you try to pay late. If you mail a check, remember that it must be postmarked by the due date, not received by the IRS.
Frequently Asked Questions
What happens if I miss a quarterly payment important date by a few days?
The IRS charges an underpayment penalty starting from the due date, even if you pay just a few days late. The penalty accrues daily as interest on the unpaid amount. If you realize you have missed a important date, pay as soon as possible to minimize the penalty. You cannot avoid the penalty by paying everything on April 15 of the following year.
Can I make quarterly payments through my bank's bill pay system?
No. Your bank's bill pay system will not reach the IRS in time or in the correct format. You must use IRS Direct Pay, EFTPS, an authorized payment processor, or mail a check with Form 1040-ES. Using your bank's bill pay to send money to the IRS will result in a late payment and penalties.
Do I need to file Form 1040-ES with each quarterly payment?
No. Form 1040-ES is a worksheet and guide; you do not file it with the IRS unless you are requesting an underpayment penalty waiver. If you pay by mail, include a payment voucher (the bottom portion of Form 1040-ES) with your check. If you pay online, you do not need to send any form.
What if I overpay my quarterly taxes?
An overpayment will be refunded to you or credited toward your next year's taxes, depending on what you request when you file your annual return. There is no penalty for overpaying, and you do not lose the money. Overpaying is often safer than underpaying if your income is uncertain.
Are quarterly tax payments required for an LLC or S corporation?
It depends on how the entity is taxed. A single-member LLC taxed as a sole proprietorship must make quarterly payments if the owner expects to owe $1,000 or more. An S corporation or multi-member LLC must make quarterly payments if the entity itself will owe federal income tax. Owners of pass-through entities may also need to make quarterly payments on their share of the entity's income.