If you make estimated tax payments, your next payment deadline is September 15. Estimated payments can be easy to overlook, especially when they fall outside the regular tax-filing season. Missing a payment could result in an underpayment penalty when you file your return.
Who Should Be Making Estimated Payments?
Estimated tax payments generally apply when you have income that isn’t subject to enough federal income tax withholding. This commonly includes self-employment or business income, investment income, rental income, retirement distributions, or other income where taxes aren’t automatically withheld.
You may also need estimated payments if the withholding from your paycheck or other income isn’t enough to cover the tax you expect to owe for the year.
How Much Should You Pay?
Estimated tax payments aren’t necessarily based on simply dividing last year’s tax bill into four equal payments. Your income, deductions, credits, withholding, and payments already made during the year can all affect how much you should pay.
If your income has changed significantly during 2026, it may be worth reviewing your estimated payments rather than automatically paying the same amount you originally planned.
How Do You Make an Estimated Tax Payment?
The IRS offers several ways to make estimated tax payments electronically, including IRS Direct Pay, your IRS Online Account, and the Electronic Federal Tax Payment System (EFTPS). You can also pay by check or money order using Form 1040-ES.
When making your payment, be sure to apply it to the correct tax year and select Estimated Tax as the payment type. Keep a record of the payment for your tax files.
A Missed Payment Can Cost You
If you’re required to make estimated tax payments and don’t pay enough during the year, you may be charged an underpayment penalty when you file your return. The penalty can apply even if you ultimately pay your entire tax bill by the filing deadline.
If you’ve already missed an estimated payment or think you may not have paid enough, making a payment now may help limit additional penalties rather than waiting until tax season.
Don’t Let the Deadline Sneak Up on You
Estimated tax deadlines are easy to miss because there usually isn’t a bill or reminder arriving in the mail. If you’re scheduled to make a September payment, take a few minutes now to confirm the amount and make sure it’s submitted by September 15.
MATRIX TIP
If we prepared estimated tax payment vouchers for you with your 2025 return, take a look at the payment schedule included with your tax documents. If your income or financial situation has changed substantially since then, contact us before making the payment. We can review whether your original estimate still makes sense.
Additional Resources
The IRS provides additional information about estimated taxes as well as several options for making payments electronically.