When are estimated tax payments typically due?

Estimated tax payments for individuals are generally due on a quarterly basis throughout the year to ensure that taxpayers are meeting their tax obligations as they earn income during the year. The correct timing of these payments, which are based on anticipated income and tax liability, is established by the IRS. These due dates are specifically set for April 15, June 15, September 15, and January 15 of the following year.

The first payment is due on April 15 for income earned in the first quarter of the year (January 1 - March 31). The second payment is due on June 15 for the second quarter (April 1 - May 31), followed by the third payment on September 15 for income earned in the third quarter (June 1 - August 31). The fourth and final payment is due on January 15 of the following year for the income earned in the fourth quarter (September 1 - December 31).

Understanding this schedule is essential for individuals who do not have taxes withheld from their income or who have additional income from self-employment, investments, or other sources. Meeting these deadlines helps avoid penalties and ensures that taxpayers remain compliant with tax regulations.