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What are federal estimated taxes?

SOLVEDby TurboTax1203Updated January 13, 2023

These are quarterly tax payments made to the IRS for income you received that wasn’t subject to federal tax withholding.

If you receive significant non-wage income, such as from self-employment, interest and dividends, or rental income, you'll likely need to pay quarterly estimated taxes or run the risk of underpayment penalties in addition to a large year-end tax bill.

If you’re at risk for an underpayment penalty next year, we'll automatically calculate your estimated tax payments and prepare 1040-ES vouchers that include the payment due date.

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