How to Make Quarterly Tax Payments Online

Self-employed individuals have to pay estimated tax on a quarterly basis.

Self-employed individuals are required to submit estimated tax payments to the IRS on a quarterly basis. These tax payments consist of the taxpayer's anticipated yearly income tax and self-employment tax. Figure your estimated taxes at the beginning of the year using Form 1040-ES, Estimated Tax for Individuals.

Things You'll Need

• Form 1040-ES, Estimated Tax for Individuals

Instructions

1. Submit payment using the Electronic Federal Tax Payment System (EFTPS). You can enroll in EFTPS online (see Resources section) or by phone at 800-316-6541. Utilizing this system will allow you to schedule one payment and recurring payments. You will not need to submit a payment voucher if you use EFTPS.

2. Submit payment by debit or credit card. You can use one of the IRS's service providers to submit payment via credit or debit card. You will be charged a convenience fee that will vary depending on the service provider you utilize. For a list of service providers currently authorized to process tax payments, see the IRS website or the current Form 1040-ES (see Resources section). You will not need to submit a payment voucher if you pay by credit/debit card.

3. Submit payment by electronic funds withdrawal. This option is available when you electronically file your income tax return. Your tax preparation software or website will prompt you to enter your payment information prior to filing your return. You can schedule all four payments at this time or schedule your first payment. You will not need to submit a payment voucher if you schedule all four payments via electronic withdrawal.

References

• IRS: Estimated Taxes

Resources

• IRS: Form 1040-ES, Estimated Tax for Individuals
• EFTPS