Whether you owe taxes or you’re expecting a refund, you can find out your tax return’s status by:
- Using the IRS Where’s My Refund tool.
- Viewing your IRS account information.
- Calling the IRS at 1-800-829-1040 (Wait times to speak to a representative may be long.)
Where are quarterly taxes due?
When to Pay Estimated Tax
| Payment Period | Due Date |
|---|---|
| January 1 – March 31 | April 15 |
| April 1 – May 31 | June 15 |
| June 1 – August 31 | September 15 |
| September 1 – December 31 | January 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax |
Where do you report quarterly income tax payments?
Your personal tax return has a “Payments” section where you can record the total amount of quarterly income tax you’ve paid during the year. This amount is applied to the amount your tax return shows you owe in taxes for the year. Report your payments on Line 65 of your Form 1040.
How to calculate your estimated quarterly tax payments?
Step 4: Add it all together, and divide by four. Now, the final step. To calculate her estimated quarterly tax payments for each quarter, Stephanie simply adds together her income tax and her self-employment tax for the year and divides this number by four. Voila.
How to calculate Stephanie’s quarterly income tax payment?
Now, the final step. To calculate her estimated quarterly tax payments for each quarter, Stephanie simply adds together her income tax and her self-employment tax for the year and divides this number by four. Voila. $9,803.50 + $12,716.59 = $22,520.09 (Stephanie’s total estimated taxes). $22,520.09/4 = $5,630.02 (Stephanie’s quarterly tax payment).
What kind of taxes do you pay on quarterly income?
Quarterly taxes generally fall into two categories: The self-employment tax (Social Security and Medicare) Income tax on the profits that your business made and any other income. In the 2020 tax year, for example, The self-employment tax rate on net income up to $137,700 is 15.3%.
