Ask Maxi · Estimated taxes
Do I have to pay quarterly estimated taxes?
If nobody withholds tax from your income and you expect to owe $1,000 or more when you file, yes. That covers most self-employed people, freelancers and owners of pass-through businesses.
The 2026 dates are April 15, June 15 and September 15 of 2026, and January 15 of 2027.
To avoid the underpayment penalty you generally need to pay in at least 90 percent of this year's tax, or 100 percent of last year's total tax — 110 percent if last year's income was over $150,000 — spread across those four dates.
Two shortcuts worth knowing. If you also have a W-2 job, or your spouse does, raising withholding there counts as paid evenly through the year, which can fix an underpayment in December that an estimate cannot. And if you missed earlier quarters, paying the January installment still reduces what the penalty is calculated on.
The penalty is interest, not a fine. Being late is better than not paying.
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