When Are Quarterly Estimated Taxes Due in 2024?
For the 2024 tax year, the four quarterly estimated tax payment deadlines are: April 15, 2024 (Q1), June 17, 2024 (Q2), September 16, 2024 (Q3), and January 15, 2025 (Q4). These payments are made using Form 1040-ES and cover both federal income tax and self-employment tax on income not subject to withholding.
The quarters are not evenly split across the calendar year. Q1 covers January through March, Q2 covers April and May, Q3 covers June through August, and Q4 covers September through December. This uneven split catches many first-time filers off guard — only two months separate the Q1 and Q2 deadlines.
| Quarter | Income Period | Due Date |
|---|---|---|
| Q1 | January 1 – March 31 | April 15, 2024 |
| Q2 | April 1 – May 31 | June 17, 2024 |
| Q3 | June 1 – August 31 | September 16, 2024 |
| Q4 | September 1 – December 31 | January 15, 2025 |
Safe Harbor Rules to Avoid Penalties
The IRS will not charge an underpayment penalty if your estimated payments and withholding cover at least 90% of your current-year tax liability or 100% of your prior-year tax liability(110% if your adjusted gross income exceeded $150,000 in the prior year). Most self-employed individuals use the prior-year safe harbor because it provides a known, fixed target — divide last year's total tax by four and pay that amount each quarter.
How to Calculate Your Quarterly Payment
Estimate your total expected tax for the year (income tax plus self-employment tax minus credits), subtract any withholding from W-2 jobs or other sources, and divide the remaining balance by four. For example, if you expect to owe $20,000 in total federal tax and have $8,000 withheld from a part-time W-2 job, your estimated payments should total $12,000 — or $3,000 per quarter.
You can pay via IRS Direct Pay (irs.gov/directpay), the Electronic Federal Tax Payment System (EFTPS), or by mailing a check with a 1040-ES voucher to the appropriate IRS address for your state.
Try It Yourself
Use our quarterly estimated tax calculator to figure out exactly how much you should pay each quarter based on your income and filing status.
Open Quarterly Estimated Tax CalculatorFrequently Asked Questions
Who needs to pay quarterly estimated taxes?
You must make estimated tax payments if you expect to owe $1,000 or more in federal tax after subtracting withholding and credits. This commonly applies to self-employed individuals, freelancers, landlords, investors with significant capital gains, and retirees without adequate withholding. If you receive a W-2 and your employer withholds enough tax, you generally do not need to make estimated payments.
What happens if I miss a quarterly estimated tax payment?
The IRS charges an underpayment penalty calculated on Form 2210. The penalty rate is based on the federal short-term interest rate plus 3 percentage points, applied to the underpaid amount for the number of days it was late. For 2024, the penalty rate is approximately 8%. Even a partial payment reduces the penalty, so paying something is better than paying nothing.
What is the safe harbor rule for estimated taxes?
The IRS will not charge an underpayment penalty if you meet one of two safe harbor thresholds: (1) you pay at least 90% of your current-year tax liability through estimated payments and withholding, or (2) you pay at least 100% of your prior-year tax liability (110% if your AGI exceeded $150,000). Most tax advisors recommend the prior-year method because it provides a fixed, predictable target.
Can I pay all my estimated taxes in one lump sum?
Technically, yes — you can pay your entire estimated tax liability with your first quarterly payment on April 15. However, you must ensure each quarter meets its individual threshold to avoid period-specific penalties. The annualized income installment method (Form 2210, Schedule AI) can help if your income is uneven throughout the year.