Use this underpayment penalty calculator to see what a late or missed estimated tax payment will cost you. The IRS penalty works like interest. For 2026, it runs at 6% to 7% a year on the amount you underpaid, for each day it was late. Missing a $3,000 payment in June and paying it with … Read more
The easiest way to pay estimated taxes online is IRS Direct Pay. It’s free, takes about five minutes and pulls the money straight from your bank account. You don’t need to create an account, and you can schedule a payment up to 365 days ahead. This guide shows the exact steps, the other online options … Read more
The safe harbor rule is the IRS’s promise that you won’t pay an underpayment penalty, as long as you pay a minimum amount on time during the year. For freelancers with unpredictable income, it’s the single most useful rule for quarterly estimated taxes. The key word is penalty. The safe harbor protects you from the … Read more
The estimated tax due dates for the 2026 tax year are April 15, June 15 and September 15, 2026, and January 15, 2027. Miss one and the IRS starts charging interest on what you owe, even if you pay everything in April. Below you’ll find the dates for 2026 and 2027, the other tax deadlines … Read more
Quarterly estimated taxes are how freelancers pay the IRS during the year, since no employer withholds tax from their income. Instead of one big bill in April, you send four payments, each covering part of the year’s income tax and self-employment tax. Quick answer: If you expect to owe $1,000 or more when you file, … Read more