Question 1

When are quarterly estimated taxes due?

Accepted Answer

For 2026, the four estimated tax due dates are: Q1 on April 15, Q2 on June 16, Q3 on September 15, and Q4 on January 15, 2027. Missing a due date triggers an underpayment penalty even if you pay the full amount later.

Question 2

How much should I pay in estimated taxes each quarter?

Accepted Answer

To avoid IRS underpayment penalties, you need to pay at least 90% of your current year tax liability or 100% of last year's total tax, whichever is less. If your prior year AGI exceeded $150,000, the threshold is 110% of last year's tax. Divide your estimated total tax by 4 for each quarterly payment.

Question 3

What happens if I miss a quarterly tax payment?

Accepted Answer

Missing a quarterly payment triggers an IRS underpayment penalty, which is calculated based on the shortfall amount and the number of days late. The penalty applies per quarter, so you can owe a penalty for Q1 even if you pay everything by year-end. Use IRS Form 2210 to calculate your exact penalty.

Question 4

Do I need to pay quarterly taxes if I also have a W-2 job?

Accepted Answer

If you have a W-2 job in addition to self-employment income, your employer may already withhold enough tax to cover your total liability. You only need to make quarterly payments on the gap. Alternatively, you can increase your W-2 withholding (via Form W-4) to cover your self-employment tax instead of making separate quarterly payments.

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