Understanding Estimated Tax Payments: Due Dates and Essential Information for 2021

Estimated tax payments are a crucial aspect of the tax system for individuals and businesses that earn income not subject to withholding. Failing to make these payments on time can result in penalties and interest charges. This comprehensive guide will provide a detailed overview of estimated tax payments, including the due dates for 2021, who is required to make them, and the various payment options available.

Who Needs to Make Estimated Tax Payments?

Generally, estimated tax payments are required for individuals and businesses that expect to owe $1,000 or more in taxes for the year, after considering any withholding. This includes:

  • Self-employed individuals
  • Business owners
  • Sole proprietors
  • Partners
  • S corporation shareholders
  • Individuals involved in the sharing economy
  • Corporations that expect to owe $500 or more in taxes

Due Dates for Estimated Tax Payments 2021

Estimated tax payments are due four times a year, with the due dates varying depending on the payment period. The due dates for 2021 estimated tax payments are as follows:

Payment Period Due Date
January 1 – March 31 April 15
April 1 – May 31 June 15
June 1 – August 31 September 15
September 1 – December 31 January 15, 2022

How to Calculate Estimated Tax Payments

To calculate your estimated tax payments, you need to estimate your taxable income and tax liability for the year. You can use the following steps:

  1. Estimate your taxable income: Determine your expected income from all sources, including wages, self-employment income, investments, and any other taxable income.
  2. Calculate your tax liability: Apply the appropriate tax rates to your estimated taxable income to determine your estimated tax liability.
  3. Subtract any withholding: If you have any income subject to withholding, such as wages or pensions, estimate the amount of taxes that will be withheld during the year. Subtract this amount from your estimated tax liability.
  4. Divide by four: The result is your estimated tax payment for each payment period.

Payment Options for Estimated Taxes

The IRS offers several convenient options for making estimated tax payments:

  • Direct Pay: Pay directly from your bank account using the IRS website or the IRS2Go app.
  • Credit or Debit Card: Pay using a credit or debit card through the Electronic Federal Tax Payment System (EFTPS).
  • Check or Money Order: Mail a check or money order to the IRS at the address provided on the estimated tax payment voucher.
  • Cash: Pay cash at certain retail partners, such as Walmart and 7-Eleven.

Consequences of Late or Underpayment

Failing to make estimated tax payments on time or paying less than the required amount can result in penalties and interest charges. The penalty is calculated as a percentage of the unpaid tax, and it accrues from the due date of the payment until the tax is paid in full.

Additional Resources

For more information on estimated tax payments, refer to the following resources:

By understanding the due dates, requirements, and payment options for estimated tax payments, you can avoid penalties and ensure timely fulfillment of your tax obligations.

What are the due dates for estimated tax payments 2021?


What is the deadline for 2021 estimated tax payments?

The final two deadlines for paying 2021 estimated payments are September 15, 2021 and January 15, 2022.

What is the payment deadline for 2021 taxes?

The filing and payment deadline for most 2021 federal tax returns has arrived. Taxpayers should file or request an extension of time to file and pay any taxes they owe by the April 18, 2022, deadline to avoid penalties and interest.

Can I pay estimated taxes after January 15th?

Share: You can postpone the quarterly Jan. 15 estimated tax payment until Jan. 31 if you file your return and make any necessary payments by that date.

What are the due dates for estimated tax payments 2024 2023?

When Income Earned in 2023
Due Date
1st Payment
Sept. 1 to Dec. 31, 2023
Jan. 16, 2024
2nd Payment
Jan. 1 to March 31, 2024
April 15, 2024
3rd Payment
Apr. 1 to May 31, 2024
June 17, 2024
4th Payment
June 1 – Aug. 31, 2024
Sept. 16, 2024

When are estimated tax payments due?

Estimated tax payments are due four times in a tax year. For calendar year taxpayers (which is most individuals), the due dates are April 15, June 15, September 15 of the current year and January 15 of the following year or the next business day if the due date falls on a weekend or holiday.

When is tax due in 2022?

Q4 – January 15, (Jan 17th, 2022 due to the 15th falling on the weekend): Quarterly estimated taxes for the months from September 1 – December 31 of 2021 are due on this date. However, you don’t have to make this payment if you file your 2021 return (Form 1040 or Form 1040-SR) and pay any tax due by January 31, 2022.

When is a 1040 payment due?

The third quarterly payment is due for individuals who must make estimated tax payments using Form 1040-ES. Income tax filing deadline for taxpayers who requested an extension to file their returns. Returns are still filed with form 1040. The fourth quarterly payment is due for individuals who must make estimated tax payments using Form 1040-ES.

When is the first quarterly tax payment due?

The first quarterly payment is due for individuals who must make estimated tax payments using Form 1040-ES. Deadline for filing and paying your 2020 income taxes. Most individuals use Form 1040. This is the deadline for requesting an automatic extension to Oct. 15 to file your income taxes with Form 4868.

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