When to Pay Estimated Tax

For estimated tax purposes, the year is divided into four payment periods. Each period has a specific due date. The due dates are April 15, June 15, September 15, of the current tax year and January 15 of the following year.

For example, your last estimated tax payment for the 2007 tax year is due by January 15, 2008. If you do not pay enough of your required annual payment through withholding and estimated tax payments by the due date for each payment period, you may be charged a penalty even if you are due a refund when you file your tax return. See Form 1040-ES Instructions found in IRS Publication 505, page 22, for more information.

* If your tax year does not begin on January 1, see IRS Publication 505.

What if the estimated tax due date is a holiday?

If any of the due dates falls on a Saturday, Sunday or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday or legal holiday.

Final quarterly estimated tax payment

For example, a payment due on Saturday, April 15 will be on time if made by Monday, April 17. You do not have to make the final January payment if you file your tax return by January 31 and pay the rest of the tax you owe with the tax return.