topic Re: Self employment in Self employed

Self employment

mizsatta1 — Wed, 30 Aug 2023 17:13:59 GMT

Hello! When do you start filing self employed quarterly? Which month in the year?

zclar — Wed, 30 Aug 2023 17:18:41 GMT

Hi mizsatta1,

Thanks for your question.

For tax year 2023, the following payment dates apply for avoiding penalties:

1st Quarterly Estimated Tax Payment	April 18, 2023
2nd Quarterly Estimated Tax Payment	June 15, 2023
3rd Quarterly Estimated Tax Payment	September 15, 2023
4th Quarterly Estimated Tax Payment	January 15, 2024

The same months/days apply each year.

RPZ1 — Wed, 30 Aug 2023 17:21:34 GMT

Hello,

The quarterly payments start on 4/15 of every year the next quarterly payments are due: 6/15, 9/15 and 1/15. If you haven't made your payments on those quarterly dates the IRS can charge you a penalty. Best practice is to make the payments that are over due as soon as you are able. I'm adding a link for you to bookmark and for more information. https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-es-estimated-tax-for-individuals/L384qHYFm#:~:text=Estimated%20tax%20payments%20are%20due,on%20a%20weekend%20or%20holiday.

Karis_F — Wed, 30 Aug 2023 17:24:31 GMT

Hello @mizsatta1. The quarterly estimated tax payments are paid on the following schedule:

Payment Period Due Date

January 1 – March 31	April 15
April 1 – May 31	June 15
June 1 – August 31	September 15
September 1 – December 31	January 15 of the following year.