Quarterly Tax Planner

The rules it applies

1. You generally need estimated payments if you expect to owe $1,000 or more after withholding and credits.
2. You generally avoid the underpayment penalty if withholding plus timely estimated payments reach the smaller of 90% of this year's tax and 100% of last year's tax (110% if last year's AGI was above $150,000, or $75,000 if married filing separately this year). The last-year rule needs a return covering all 12 months of last year.
3. The required amount is split into four equal payments, due on the dates in the schedule. The income periods behind them are uneven: three, two, three and four months.
4. A safe harbor only avoids the penalty. Any tax still owed is due when you file, by April 15, 2027.

The full explanation, with the worked example this planner reproduces ($12,000 last year, $20,000 this year, so $3,000 a quarter), is in our guide Quarterly Estimated Taxes for Freelancers.

Assumptions and limits

• Federal tax only. States have their own estimated-tax rules and dates.
• It uses the regular method: four equal payments. If your income arrives unevenly, the annualized income installment method (Form 2210, Schedule AI) can lower early payments; this planner does not calculate it.
• Withholding is treated as paid evenly through the year, which is how the IRS treats it unless you elect otherwise.
• Special rules for farmers and fishermen, and for anyone without a full-year return last year, are not covered beyond the 90% rule. Publication 505 has the details.
• Your total tax is your own estimate. Numbers you type stay in your browser; nothing is sent to us or stored.

An estimate for planning, not tax advice. Confirm your payments with Form 1040-ES and Publication 505, or with a CPA or enrolled agent. This tool has not been reviewed by a licensed tax professional.