What is the date for paying estimated taxes for a self-employed taxpayer?

Self-employed taxpayers are required to make estimated tax payments quarterly to ensure they meet their tax obligations throughout the year. This practice helps to avoid large tax bills at the end of the year, as self-employed individuals do not have taxes withheld from their income like traditional employees.

The specific due dates for these quarterly payments are set by the IRS and fall on April 15, June 15, September 15, and January 15. This schedule ensures that the estimated taxes are aligned with the taxpayer’s income as it is earned, keeping the tax system more stable and manageable for the taxpayer.

Monthly payments would not be practical or required under the current tax structure, and annual payments would be inadequate for self-employed individuals who need to pay taxes based on their quarterly earnings. Making a single payment at the end of the year would result in underestimation of tax responsibility and could lead to substantial penalties for underpayment. Thus, the option to pay quarterly on these specific dates is designed to facilitate accurate and timely tax contributions from self-employed individuals.