Estimated Tax Payments Are Due Tomorrow
The deadline for submitting your second estimated tax payment of 2021 is June 15, so get your payments in right away.
The schedule for paying federal estimated taxes is back to normal this year. In 2020, the first two payments were pushed back to July 15 because of the pandemic. But we're back to the usual estimated tax payment due dates for 2021, even though the federal income tax return filing deadline was moved from April 15 to May 17. So, if you're required to make a second-quarter estimated tax payment, you only have until midnight tomorrow to send the proper amount to the IRS.
Estimated taxes are paid in four equal installments — generally, one installment for each quarter of the year. The first payment for the 2021 tax year was due on April 15, 2021. The second 2021 estimated tax payment, which is for income earned from April 1 to May 31, is due on June 15, 2021. That's tomorrow!
Use Form 1040-ES to calculate and pay your estimated taxes. The various payment methods are described in the instructions for the form. If you owe at least $1,000 in tax for the year, you could be hit with a penalty if you don't pay enough estimated tax throughout the year.
Also, unless you live in a state with no income tax, you might owe state estimated taxes, too. Check with the state tax agency where you live for state estimate tax payment due dates.
For more information on 2021 estimated tax payments, see When Are 2021 Estimated Tax Payments Due?
