About this calculator
Freelancers and contractors pay tax as income is earned, not when a return is filed. That is why the IRS requires quarterly estimated payments — otherwise a large balance is due in April, with interest and a penalty on the shortfall.
How it works
Enter your expected full-year tax and the payments are split evenly across the four statutory due dates. The safe-harbour figure shows the minimum you should pay to avoid the underpayment penalty, which is the higher of 90% of the current-year tax or 100% of last year’s tax (110% when last year’s AGI was over $150,000).
Frequently asked questions
Who has to make quarterly estimated tax payments?
Generally, self-employed individuals, sole proprietors, partners, S corporation shareholders, and landlords with rental income. You can skip them if you had no tax liability last year or if your withholding plus credits covered at least 100% of this year’s liability.
What are the 2026 quarterly tax due dates?
April 15, June 15, September 15, and December 15 for most taxpayers. But for tax year 2026 the fourth payment is due January 15, 2027, because it covers income earned in Q4 of 2026.
What is the safe-harbour rule?
To avoid the underpayment penalty you must pay at least 90% of the current year’s tax, or 100% of last year’s total tax. If your prior-year AGI was over $150,000, the safe harbour rises to 110% of last year’s tax.
What happens if I underestimate my quarterly payments?
The IRS charges interest on the underpaid amount from the due date, plus a penalty that is generally 10% of the shortfall for the first year. Repeated shortfalls can trigger a larger rate the following year.
Do I need to file Form 1040-ES?
Yes. Form 1040-ES is the official voucher used to make estimated tax payments. Attach a check or payment slip for each quarter and mail it, or pay electronically through IRS Direct Pay or an approved processor.
Can I pay a different amount each quarter?
You can. The IRS allows uneven payments as long as the annual total meets the safe-harbour. The annualized income installment method also helps if your income is seasonal and lumpy.