What is Quarterly Tax?
Estimated tax payments made four times per year by freelancers to cover income and self-employment tax owed to the IRS.
What Are Quarterly Estimated Tax Payments?
Unlike employees who have taxes withheld from each paycheck, freelancers must pay estimated taxes directly to the IRS (and often to their state) four times per year. These payments cover income tax and self-employment tax on income earned in each quarter.
Who Must Pay Quarterly?
You must pay quarterly estimated taxes if you expect to owe at least $1,000 in federal taxes for the year after subtracting withholding and credits.
Due Dates (2024-2025)
| Quarter | Income Covers | Due Date |
|---|---|---|
| Q1 | January 1 – March 31 | April 15 |
| Q2 | April 1 – May 31 | June 15 |
| Q3 | June 1 – August 31 | September 15 |
| Q4 | September 1 – December 31 | January 15 |
How Much to Pay
Use the safe harbor rule to avoid underpayment penalties:
The safe harbor based on prior year is easiest to calculate: divide last year's total tax bill by 4.
How to Pay
Use the IRS Direct Pay system at irs.gov/directpay or set up an EFTPS account for scheduled payments.
Related Calculators
Quarterly Tax Calculator
Calculate how much to pay in quarterly estimated taxes to avoid IRS underpayment penalties as a freelancer.
Self-Employment Tax Calculator
Estimate your self-employment tax (SE tax), federal income tax, and total tax bill as a freelancer or independent contractor.
Emergency Fund Calculator
Calculate how large your emergency fund should be as a freelancer and how much more you need to save.
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