Quarterly Estimated Tax Payments: When Are They Due, How Do You File and More

Quarterly Estimated Tax Payments: When Are They Due, How Do You File and More

Quick summary:

According to the IRS, you generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when your return is filed, and if your employment type falls into one of these categories: Independent contractor or freelancerSole proprietorPartnerS corporation shareholderThere are other sources of income that fall under the estimated tax umbrella, including:Dividends and interest earned from investment salesRoyalties for past workLandlord rental incomeAlimonyUnemployment benefitsRetirement benefitsSocial Security benefits, if you have other sources of income Prizes and awardsYou may also need to pay estimated tax as a full-time employee if your employer isn't withholding enough from your salary

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