You may need to pay estimated taxes to the IRS during the year if you have income that is not subject to withholding. This depends on what you do for a living and the types of income you receive.

These six tips from the IRS explain estimated taxes and how to pay them.

  1. If you have income from sources such as self-employment, interest, dividends, alimony, rent, gains from the sales of assets, prizes or awards, then you may have to pay estimated tax.
  2. As a general rule, you must pay estimated taxes in 2012 if both of these statements apply: 1) You expect to owe at least $1,000 in tax after subtracting your tax withholding (if you have any) and tax credits, and 2) You expect your withholding and credits to be less than the smaller of 90 percent of your 2012 taxes or 100 percent of the tax on your 2011 return. Special rules apply for farmers, fishermen, certain household employers and certain higher income taxpayers.
  3. For Sole Proprietors, Partners and S Corporation shareholders, you generally have to make estimated tax payments if you expect to owe $1,000 or more in tax when you file your return.
  4. To figure your estimated tax, include your expected gross income, taxable income, taxes, deductions and credits for the year. Use the worksheet in Form 1040-ES, Estimated Tax for Individuals, for this. You want to be as accurate as possible to avoid penalties. Also, consider changes in your situation and recent tax law changes.
  5. The year is divided into four payment periods, or due dates, for estimated tax purposes. Those dates generally are April 15, June 15, Sept. 15 and Jan. 15 of the next or following year.
  6. Form 1040-ES, Estimated Tax for Individuals, has everything you need to pay estimated taxes. It includes instructions, worksheets, schedules and payment vouchers. However, the easiest way to pay estimated taxes is electronically through the Electronic Federal Tax Payment System, or EFTPS, at You can also pay estimated taxes by check or money order using the Estimated Tax Payment Voucher or by credit or debit card.

For more information on estimated taxes, refer to Form 1040-ES and its instructions and Publication 505, Tax Withholding and Estimated Tax. These forms and publications are available at or by calling 800-TAX-FORM (800-829-3676).

TaxACT Free Federal and Deluxe Editions include Form 1040ES and step-by-step instructions for it. Start your TaxACT Online return now.


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Upcoming Tax Dates

October 10 — Everyone
Federal Holiday (Columbus Day) - Details

October 11 — Employees who work for tips
If you received $20 or more in tips during September, report them to your employer - Details

October 13 — Communications and air transportation taxes under the alternative method (special September deposit rule).
Deposit the tax included in amounts billed or tickets sold during the period beginning September 12 and ending September 15.

October 14 — Regular method taxes (special September deposit rule).
Deposit the tax for the last 4 days of September.

October 17 — Individuals
If you have an automatic 6-month extension to file your income tax return for 2015, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due - Details

October 17 — Partnerships
Electing large partnerships: File a 2015 calendar year return (Form 1065-B). This due date applies only if you were given an additional 6-month extension - Details

October 17 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in September.

October 17 — Nonpayroll withholding
If the monthly deposit rule applies, deposit the tax for payments in September.

October 26 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the last 15 days of September.

October 28 — Regular method taxes
Deposit the tax for the first 15 days in October.

October 31 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2016 but less than $2,500 for the third quarter.

October 31 — Federal unemployment tax
Deposit the tax owed through September if more than $500.

October 31 — Form 720 taxes.
File Form 720 for the third quarter of 2016.

October 31 — Wagering tax
File Form 730 and pay the tax on wagers accepted during September.

October 31 — Heavy highway vehicle tax
File Form 2290 and pay the tax for vehicles first used in September.

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