How to Pay Estimated Taxes
Five ways to pay estimated taxes:
- Form 1040-ES, Individual Estimated Tax Voucher:
- Use the payment the voucher, Form 1040-ES, to remit your payment. Mail the form plus you payment to the IRS.
- Use the window envelope that comes with the Form 1040-ES package.
- If you use your own envelope, use the address shown in the Form 1040-ES instructions
- Tax software usually includes Form 1040-ES payment vouchers. You can print them out and use them to submit your installment. (TurboTax, which I've been using for years, has these vouchers.)
- Credit card:
- You may use Visa, MasterCard, American Express, or Discover Card. See Form 1040-ES instructions.
- Direct debit:
- You can pay the tax by direct debit if you are filing Form 1040 or Form 1040A electronically.
- Electronically (EFTPS):
- You may pay using the Electronic Federal Tax Payment System (EFTPS).
- Using an overpayment from a prior year:
- You can apply an overpayment from a prior year to your current year estimated tax.
For Freelancers and independent Contractors
- Organize your financial data into one central accounting system on the cloud
- Software kept up to date.
- Your data kept secure
- Anytime, anywhere data access.
- Pay your quarterly estimated taxes online.
- Export Schedule C to TurboTax at year-end for faster filing.
- Save up to 50% off QuickBooks Self-Employed. Track every deduction! Start your free trial now!
Have an accounting or bookkeeping question? Email it to me.
- Return to the Business Taxes Table of Contents to find related links