Now that you know how to figure the total amount of tax due for the current year, make sure you don’t miss any deadlines. As with everything concerning the IRS, there will be penalties and fines for missed due dates.
Your total amount due for let’s say 2012 should be divided in quarters, so divide it by four. You will be making four equal payments spread evenly throughout the year. The quarters of the year and their due dates are like this:
- January 1 to March 13: estimated tax payments are due April 15
- April 1 to May 31: estimated tax payments are due June 15
- June 1 to August 31: estimated tax payments are due September 15
- September 1 to December 31: estimated tax payments are due January 15 of the next year
If you are mailing your estimated tax payments then the postmark date is the date of payment.