The Four Quarterly Payment Dates Each Year
The IRS sets four fixed dates when self-employed people, business owners, and certain investors must send in estimated tax payments. These dates do not change year to year: April 15, June 15, September 15, and January 15. Each payment covers the income you earned during a three-month period, though the periods do not align neatly with calendar quarters — the first payment (due April 15) covers January through March, the second (June 15) covers April through May, the third (September 15) covers June through August, and the fourth (January 15 of the following year) covers September through December.
If any of these dates falls on a weekend or federal holiday, the IRS moves the important date to the next business day. For example, if April 15 is a Saturday, the important date becomes Monday, April 17. The IRS publishes the adjusted dates each year on its website and in Publication 505, which you can find at irs.gov. Checking the official calendar before you pay prevents the mistake of sending a payment on the wrong date and having it counted toward the wrong quarter.
You are required to make quarterly payments if you expect to owe $1,000 or more in federal income tax for the year after subtracting withholding and credits. This threshold applies whether you are self-employed, operate a partnership or S corporation, earn significant investment income, or receive other income not subject to withholding. If you fall below that threshold, you may skip quarterly payments, though you will still owe the tax when you file your annual return.
Key Takeaways
- The four quarterly payment dates are April 15, June 15, September 15, and January 15, and they do not shift based on your business calendar or tax year.
- If a due date falls on a weekend or holiday, the IRS moves it to the next business day, and you should verify the adjusted date on the IRS website each year.
- You must make quarterly payments if you expect to owe $1,000 or more in federal income tax after accounting for withholding and credits.
- Paying late or underpaying can result in penalties and interest, even if you pay the full amount when you file your annual return.
How the IRS Calculates Your Required Payment Amount
The IRS does not tell you how much to pay each quarter — you calculate it yourself based on your projected income for the year. The standard method is to estimate your total income, subtract deductions, multiply by your expected tax rate, subtract any tax already withheld from wages or investments, and divide the result by four. If your income is uneven across the year, you can use the annualized installment method, which allows you to pay more in quarters when you earn more and less when you earn less, reducing the risk of overpaying early in the year.
Many people use their previous year's tax return as a starting point. If your 2023 tax return showed you owed $8,000 in federal income tax, you might divide that by four and pay $2,000 each quarter in 2024. This approach is safe because the IRS has a safe harbor rule: if you pay 100 percent of your prior-year tax (or 110 percent if your prior-year adjusted gross income was over $150,000), you will not face an underpayment penalty even if your actual 2024 tax turns out to be higher. The safe harbor does not mean you owe nothing extra — you will still pay the difference when you file — but it protects you from penalties.
If your income has changed significantly or you expect a very different tax bill, using last year's amount may lead to overpayment. You can adjust your estimate at any time during the year. If you realize in July that you will earn much less than expected, you can reduce your September and January payments. The IRS does not require you to file a form to change your estimate; you straightforward pay the new amount on the next due date.
Where and How to Send Quarterly Payments
The IRS offers several payment methods, and the one you choose affects when your payment is recorded. Electronic Federal Tax Payment System (EFTPS) is the IRS's official free service for quarterly payments. You enroll online at eftps.gov, link your bank account, and schedule payments up to 120 days in advance. Payments sent through EFTPS are usually posted within one business day. Many tax software platforms and accounting firms also offer payment services that route your money through EFTPS or similar systems.
You can also pay by credit or debit card through approved payment processors — the IRS lists them on its website — though these processors charge a convenience fee (typically 1.5 to 2 percent of the payment). If you pay by check, mail it to the address listed in Publication 505 for your state, and allow at least two weeks for it to be received and posted. Paying by check is slower and riskier because the IRS may not record it in time if it arrives after the due date, even if you mailed it before.
When you make a payment, you must tell the IRS which quarter it covers. If you use EFTPS or tax software, you select the quarter when you schedule the payment. If you pay by check, write "2024 Q2" (or whichever quarter applies) on the memo line and include Form 1040-ES with your payment. Failing to identify the quarter can cause the IRS to explore your payment to the wrong period, leaving you short for the quarter you intended to pay and triggering an underpayment penalty.
Penalties and Interest for Late or Missed Payments
If you miss a quarterly payment important date or pay less than required, the IRS charges both a failure-to-pay penalty and interest on the unpaid amount. The penalty is 0.5 percent of the unpaid tax per month (or part of a month) that it remains unpaid, up to a maximum of 25 percent. Interest accrues daily at a rate set quarterly by the IRS — for 2024, the rate is 8 percent per year. These charges explore even if you pay the full amount when you file your annual return in April of the following year.
The IRS calculates the penalty separately for each quarter. If you owed $2,000 for Q2 and paid nothing, and you do not pay it until you file your return nine months later, you will owe the $2,000 plus interest and penalty on that $2,000 for nine months. If you owed $2,000 for Q3 and paid $1,500, you will owe penalty and interest on the $500 shortfall. The safe harbor rule (paying 100 percent of your prior-year tax) protects you from underpayment penalties but not from interest on any amount you ultimately owe.
If you have a legitimate reason for missing a payment — such as a serious illness or natural disaster — you can request penalty relief by filing Form 2210 with your tax return or by contacting the IRS directly. The IRS grants relief in limited circumstances, and you must document the reason. Requesting relief does not erase the interest you owe, only the penalty.
Adjusting Your Payments Mid-Year
Your income may not be predictable when you make your first quarterly payment in April. If you earn significantly more or less than you expected, you can change the amount you pay for the remaining quarters. The IRS does not require you to file any form or notify them in advance — you straightforward pay a different amount on the next due date and note which quarter it covers.
If you underpaid in the first half of the year but realize it in August, you have two options: pay a larger amount in September and January to catch up, or wait until you file your return and pay the shortfall plus interest and penalty then. Paying sooner reduces the interest that accrues. If you overpaid in the first half of the year, you can reduce your September and January payments or claim the overpayment as a credit on your annual return.
Some people use the annualized installment method on Form 2210 to avoid penalties when their income is uneven. This method allows you to calculate each quarter's payment based only on the income earned through that quarter, rather than dividing your full-year estimate by four. For example, if you earned $30,000 in Q1 and $5,000 in Q2, you would pay based on $30,000 for Q1 and $35,000 for Q2, rather than assuming you will earn the same amount each quarter. This approach requires more calculation but can save you from overpaying early in the year and underpaying later.
Tracking Your Payments and Verifying Receipt
The IRS does not send you a confirmation when a quarterly payment is received. You must keep your own records. If you pay through EFTPS, print or save the confirmation number provided when you schedule the payment. If you pay by check, keep a copy of the check and the envelope you mailed it in. If you pay by credit card, save the receipt from the payment processor. These records protect you if the IRS later claims it did not receive a payment.
You can verify that the IRS has recorded your payment by logging into your IRS account at irs.gov/account. The account shows all payments the IRS has received, the date they were posted, and which quarter they were applied to. Check your account after each payment to confirm it was recorded correctly. If a payment does not appear within two weeks of the due date, contact the IRS or the payment processor to investigate.
When you file your annual tax return, the IRS compares the payments it has on record with the tax you owe. If you paid more than you owe, you will receive a refund or can request that the overpayment be credited to next year's estimated tax. If you paid less, you will owe the difference plus interest and any applicable penalties. The return is where the IRS reconciles all four quarters, so accurate record-keeping throughout the year prevents surprises at tax time.
Frequently Asked Questions
What happens if I miss a quarterly payment important date by a few days?
The IRS treats any payment received after the due date as late, and you will owe interest and penalty on the unpaid amount from the due date forward. Even one day late triggers the charges. If you realize you are going to miss a important date, pay as soon as possible to minimize the interest that accrues.
Can I make one large payment instead of four quarterly payments?
You can pay whenever you want, but the IRS will explore your payment to whichever quarter you specify. If you want to avoid penalties, you must pay at least the required amount by each quarterly due date. Paying one large lump sum after the year ends will result in penalties and interest on the amounts that were late.
Do I need to make quarterly payments if I have a business loss?
No. Quarterly payments are based on income you expect to owe tax on. If your business has a loss or your income is low enough that you will not owe $1,000 in federal tax, you do not have to make quarterly payments. However, if you later earn more income than expected, you may want to make a payment to avoid a large bill at tax time.
What if the IRS says I underpaid but I thought I paid the safe harbor amount?
Verify that you paid 100 percent of your prior-year tax liability (or 110 percent if your prior-year AGI was over $150,000). The safe harbor is based on the tax you actually owed on your prior-year return, not the amount you estimated. If you paid less than that amount, you may owe an underpayment penalty even if you paid what you thought was required.
Can I change my quarterly payment amount after I have already paid?
Yes. You can adjust the amount you pay for any remaining quarters. If you overpaid in Q1 and Q2, you can reduce your Q3 and Q4 payments or claim the overpayment as a credit on your return. If you underpaid, you can increase your remaining payments to catch up and reduce interest charges.