Quarterly Estimated Taxes: The Calendar Every Freelancer Needs

If you have ever stared at a number on a form and wondered where it came from, you are not alone. Skip quarterly payments and the IRS adds penalties on top of the tax you owe. The calendar is non-negotiable.

The four dates

April 15, June 15, September 15, January 15. Mark them now.

Safe-harbour rule

Pay 100% of last year's total tax (110% if you earned over $150k). No penalty, no matter what you owe.

Underpayment penalty

Roughly the federal short-term rate + 3%. Small, but compounds quarterly.

Pro tips

• EFTPS.gov is free and the cleanest way to schedule payments.
• Even if cash is tight, file the form — the failure-to-file penalty is 10× failure-to-pay.

Frequently asked questions

What if my income is lumpy? Use the annualised-income installment method (IRS Form 2210).

Do I owe state too? Most states yes. Same dates, separate cheque.

If you only remember one thing from this post, make it that the inputs matter more than the calculator.