When are Estimated Taxes Due?

If you have a large tax balance due, you must make estimated tax payments to IRS and State Tax division during the year. For example, your annual income is $500,000 and your expected IRS tax is $150,000, you can’t wait until April 15 to pay $150,000. IRS will assess a penalty if you do that. You have to make estimated payment 4 times during the year to avoid the penalty.

Payment Period Due Date
January – March April 15
April – June July 15
July – Sept October 15
Oct – Dec January 15

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