The April 15 filing deadline has passed, but tax obligations for many individuals do not end with the submission of Form 1040. If you earn income that is not fully covered by withholding—such as self‑employment income, investment gains, rental income, or pass‑through K‑1 income—you may be required to make quarterly Estimated Tax payments to avoid underpayment penalties.

Below is a concise overview of what taxpayers should know for the 2026 tax year.

Who Needs to Pay Estimated Tax

Estimated Tax generally applies if you expect to owe at least $1,000 in tax after withholding and credits, and your income includes:

• Self‑employment or freelance income (Schedule C)
• 1099‑NEC or 1099‑MISC income
• Investment income (capital gains, dividends, interest, crypto transactions)
• Rental property income
• S‑Corporation or Partnership K‑1 income
• Any income without sufficient withholding
• W‑2 employees with adequate withholding typically do not need to make quarterly payments.

2026 Estimated Tax Deadlines

The IRS requires four payments throughout the year:

• 1st Quarter: April 15, 2026
• 2nd Quarter: June 15, 2026
• 3rd Quarter: September 15, 2026
• 4th Quarter: January 15, 2027

Missing or underpaying these installments may result in IRS underpayment penalties, even if you receive a refund when filing next year.

How to Make Payments

Taxpayers can submit payments using any of the following IRS‑approved methods:

• IRS Direct Pay (bank account)
• EFTPS (Electronic Federal Tax Payment System)
• IRS Online Account (view balance, history, and make payments)
• Debit/credit card via IRS‑authorized processors

For most individuals, IRS Direct Pay or EFTPS provides the most reliable confirmation and tracking.

Why This Matters After April 15

Many taxpayers assume their obligations end once the annual return is filed. However, for those with non‑W‑2 income, quarterly Estimated Tax is the next required step to remain compliant throughout the year. Addressing this early helps prevent penalties and ensures smoother year‑end planning.

Hanmi CPA Support

Hanmi CPA provides tailored Estimated Tax calculations based on your income structure, prior‑year results, and projected 2026 activity. If you would like assistance determining your quarterly obligations or adjusting your tax strategy for the year, we are here to help.