Quarterly estimated tax payments are due:
- April 15th
- June 15th
- September 15th and
- January 15th
The goal is to be within $1,000 of your calculated tax liability on your upcoming personal tax return to avoid penalties. They can be paid with a check or online.
To calculate each estimated payment, you will want to review your income for:
- January 1 through March 31
- April 1 through May 31
- June 1 through August 31 and
- September 1 through December 31
then subtract estimated deductions and credits. Using the previous year tax return is a good starting point. You can calculate by hand using the IRS Worksheet or you can use the calculator in TurboTax
Glad to be of service!
Jennifer A.
