Generally, you must make estimated tax payments for the current tax year if both of the following apply:
- You expect to owe at least $1,000 in tax for the current tax year after subtracting your withholding and refundable credits.
- You expect your withholding and refundable credits to be less than the smaller of:
- 90% of the tax to be shown on your current year’s tax return, or
- 100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)
There are special rules for:
- Farmers and fishermen
- Certain household employers
- Certain higher income taxpayers
- Nonresident aliens
Generally, if you determine you need to make estimated tax payments for estimated income tax and estimated self-employment tax, you can make quarterly estimated tax payments or pay all of the amount due on the first quarterly payment due date.
Special rules apply to farmers and fishermen. Farmers and fishermen make one required payment or pay in full with their tax return when filed by a certain date.
For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you don't pay enough tax by the due date of each payment period, you may be charged a penalty even if you're due a refund when you file your income tax return at the end of the year.
If you mail your estimated tax payment and the date of the U.S. postmark is on or before the due date, the IRS will generally consider the payment to be on time. If you use IRS Direct Pay, you can make payments up to 8 p.m. Eastern time on the due date. If you use a credit or a debit card, you can make payments up to midnight on the due date.
|Payment Period||Due Date|
|January 1 – March 31||April 15 – See Filing and Payment Deadline Extended to July 15, 2020 - Updated Statement for tax relief on account of Coronavirus Disease 2019.|
|April 1 – May 31||June 15 - Extended to July 15, 2020|
|June 1 – August 31||September 15|
|September 1 – December 31||January 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax|
|Fiscal Year Taxpayers||If your tax year doesn't begin on January 1, see the special rules for fiscal year taxpayers in Chapter 2 of Publication 505|
|Farmers and Fishermen||See Chapter 2 of Publication 505|
Note: If the due date for making an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that's not a Saturday, Sunday, or legal holiday.
Report all your estimated tax payments on Schedule 3 (Form 1040 or 1040-SR) . Also include any overpayment that you elected to credit from your prior year tax return.