This tax payments are quarterly payments that cover income not subject to withholding, such as freelance work, rideshare driving, construction, cleaning services, rental income, or investment income.

• What are estimated taxes?

Estimated taxes are quarterly payments made directly to the IRS for income without automatic withholding. Instead of waiting until the end of the year, you pay in advance — which helps avoid penalties and makes tax season less stressful.

• Who needs to pay?

You are required to pay estimated taxes if:

• You are self-employed, a sole proprietor, or an S-Corporation shareholder.

• You expect to owe at least $1,000 in taxes for the year.

• For corporations, the threshold is $500.

• When are payments due?

The IRS requires four payments each year, typically on January 15, April 15, June 15, and September 15. If the date falls on a weekend or holiday, the deadline moves to the next business day.

• Why it matters

Making your quarterly payments not only prevents IRS penalties, but also helps you:

• Plan and budget for taxes instead of facing a lump sum.

• Build your Social Security and Medicare contributions.

• Keep your business finances organized for better decision-making.

👉 Watch the full video where Sandra Lozano, co-founder of Love Taxes, explains how to calculate, pay online, and adjust your estimated taxes step by step.