The Four Quarterly Tax Payment Dates Each Year

The IRS sets four fixed dates when self-employed people and business owners must send in estimated tax payments. These dates do not change year to year. If you owe federal income tax, self-employment tax, or both, you pay on these four dates instead of waiting until April 15.

The payment dates are April 15, June 15, September 15, and January 15 of the following year. Each payment covers three months of income. If any date falls on a weekend or federal holiday, you pay the next business day instead. The IRS treats a late payment as underpayment, which can result in penalties and interest even if you pay the full amount by April 15 the next year.

You do not have to make quarterly payments if your total tax liability for the year will be less than $1,000, or if you had no tax liability the prior year and are a U.S. citizen or resident alien. Some people also avoid quarterly payments by having an employer withhold taxes from a W-2 job, though this is uncommon for self-employed filers.

Key Takeaways

  • Quarterly tax payments are due April 15, June 15, September 15, and January 15, with the January payment covering the prior year's fourth quarter.
  • Each payment covers estimated tax on three months of income, and you calculate it based on what you expect to earn that quarter.
  • The IRS penalizes late or underpaid quarterly payments even if you settle the full bill by April 15 the following year.
  • You can pay online through IRS Direct Pay, by phone, by mail, or through a tax professional, and the IRS accepts payment up to 11:59 p.m. Eastern Time on the due date.
  • If your income changes significantly mid-year, you can recalculate your remaining quarterly payments instead of overpaying for the rest of the year.

How Much to Pay Each Quarter

The amount you pay each quarter depends on your estimated total tax for the year. You calculate this by projecting your income, subtracting deductions, and determining what you will owe in federal income tax and self-employment tax combined. The IRS Form 1040-ES walks through this calculation and includes a worksheet.

A common method is to divide last year's total tax by four and pay that amount each quarter. This works if your income is stable. If you earned $60,000 in net self-employment income last year and owed $15,000 in total tax, you would pay $3,750 each quarter this year. However, if your income is higher or lower this year, you should recalculate to avoid overpaying or underpaying.

You can also use the safe harbor rule: if you pay 90 percent of your current year tax or 100 percent of your prior year tax (110 percent if your prior year adjusted gross income was over $150,000), the IRS will not penalize you for underpayment, even if your actual tax turns out to be higher. This gives you a buffer if your income is unpredictable.

Where and How to Send Payment

The IRS offers four main payment methods. IRS Direct Pay is free and lets you pay online from your bank account at irs.gov/payments. You enter your Social Security number or EIN, the tax form type (1040-ES), and the quarter you are paying for. The system confirms your payment immediately and gives you a confirmation number.

Credit or debit card payments go through third-party processors approved by the IRS. You can find them at irs.gov/payments. These processors charge a convenience fee (usually 1.87 to 2.35 percent of the payment amount) that you pay on top of your tax. The fee is not tax-deductible.

Phone payments are available through the IRS at 1-800-829-1040. An IRS representative will take your payment information and process it over the phone. Mail payments require Form 1040-ES and a check or money order sent to the IRS address listed in the form instructions for your state. Mail payments take longer to process and should be sent at least one week before the due date to arrive on time.

Many self-employed people use a tax professional or accounting software to handle quarterly payments. The software calculates the amount, stores your payment history, and can set up automatic payments. This reduces the risk of missing a date or miscalculating the amount.

What Happens If You Miss a Payment Date

Missing a quarterly payment date triggers an underpayment penalty. The IRS calculates this penalty based on how much you underpaid and for how long. The penalty rate changes each quarter and is tied to the federal short-term interest rate plus 3 percent. For 2024, the rate is 8 percent annually, but this varies by quarter and year.

You cannot avoid the penalty by paying the full amount on April 15 the next year. The IRS penalizes the shortfall for each quarter it was late. For example, if you owed $3,000 in Q1 but paid nothing, and then paid $12,000 on April 15 the next year to cover all four quarters, you still owe a penalty on the $3,000 that was three quarters late.

The penalty is calculated and added to your tax bill when you file your return. You can request a waiver if you had reasonable cause for missing the payment—such as a death, serious illness, or unavoidable absence—but the IRS rarely grants waivers for simple oversight. If you realize you will underpay, paying as much as you can by the due date reduces the penalty amount.

Adjusting Payments If Your Income Changes

If your income drops or rises significantly during the year, you do not have to stick with your original quarterly payment amount. You can recalculate your estimated tax based on actual income through the most recent quarter and adjust the remaining payments. This is especially useful if you had a strong first half but expect a weak second half, or vice versa.

To adjust, recalculate your total estimated tax for the year using Form 1040-ES, subtract what you have already paid in earlier quarters, and divide the remainder by the number of quarters left. For example, if you paid $3,000 each in Q1 and Q2 but now expect to earn much less, you can lower your Q3 and Q4 payments to match your revised forecast. This prevents overpaying and ties your payments more closely to actual income.

You do not need IRS permission to adjust. Simply calculate the new amount and pay it by the next due date. Keep records of your recalculation in case the IRS questions your payments during an audit.

Tracking and Record-Keeping for Quarterly Payments

Keep a record of every quarterly payment you make, including the date, amount, payment method, and confirmation number. The IRS sends a notice if it does not receive your payment, but this can take weeks. Having your own records prevents disputes and helps you file your return accurately.

If you pay by check, keep a copy of the cancelled check or bank statement showing the payment cleared. If you pay online, print or save the confirmation page. If you use a tax professional, ask for a summary of all quarterly payments made on your behalf. These records are important if you are audited or if you need to prove you paid on time.

When you file your annual tax return (Form 1040 with Schedule C for self-employed income), you report the total of all quarterly payments you made. The IRS matches this against its records. If there is a discrepancy, the IRS will contact you. Having clear records makes it easy to resolve.

Frequently Asked Questions

What if the due date falls on a weekend or holiday?

You pay on the next business day. For example, if June 15 falls on a Saturday, your payment is due Monday, June 17. The IRS website lists all observed holidays that extend due dates. If you pay online, the system will not accept a payment after 11:59 p.m. Eastern Time on the extended due date.

Can I pay quarterly taxes through a payment plan or installment agreement?

No. Quarterly estimated tax payments must be paid in full by each due date. If you cannot pay the full amount, pay what you can by the deadline to reduce the underpayment penalty. You can set up a payment plan for any remaining balance after you file your return, but this does not waive the quarterly payment penalties.

Do I need to file quarterly tax forms with my payments?

No. You do not file Form 1040-ES itself; you use it only to calculate your payment amount. You report all quarterly payments together on your annual tax return. Some payment methods ask you to identify the quarter and tax year, but you do not mail in a form with each payment.

What if I overpay my quarterly taxes?

The overpayment is credited toward your next year's taxes or refunded to you when you file your return. You can also request a refund of overpayment without waiting to file, though most people let it carry forward. Report the overpayment on your return and choose whether to refund it or apply it to next year's estimated tax.

Are quarterly tax payments different if I have a business partner or LLC?

The payment dates and amounts are the same, but how you split them depends on your business structure. In a partnership or multi-member LLC, each owner pays their share of estimated tax based on their ownership percentage and expected income. Sole proprietors and single-member LLCs pay the full amount themselves. Consult a tax professional about your specific structure.