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The second quarterly estimated tax payment for 2026 is due Sunday, June 15, 2026. Because June 15 falls on a Sunday, the IRS deadline extends to Monday, June 16. If you are self-employed, freelance, or have significant investment income, this deadline applies to you. Missing it triggers an underpayment penalty. Here is exactly what to do.
Who Needs to Pay Q2 Estimated Taxes
You need to make estimated tax payments if you expect to owe at least $1,000 in federal taxes for 2026 and your withholding will not cover your full tax liability. This applies to:
- Freelancers and independent contractors (1099 income)
- Self-employed business owners
- Investors with significant capital gains, dividends, or interest income
- Gig workers (Uber, DoorDash, Etsy, Upwork, etc.)
- Rental property owners with positive net income
- Anyone who had a large tax bill last April and did not adjust withholding
W-2 employees who have their employer withhold taxes typically do not need to make estimated payments unless they have substantial side income.
Q2 Covers April and May Income Only
Despite being called “Q2,” the second quarterly payment covers income earned in April and May only, not the full second quarter. The IRS’s uneven quarter structure catches many first-time self-employed people off guard:
| Payment | Income Period | Due Date |
|---|---|---|
| Q1 | January to March | April 15, 2026 (passed) |
| Q2 | April to May | June 16, 2026 (Monday) |
| Q3 | June to August | September 15, 2026 |
| Q4 | September to December | January 15, 2027 |
How Much to Pay
Two options to calculate your Q2 payment:
Option 1: Safe Harbor (simplest): Pay 25% of last year’s total tax liability (from Line 24 of your 2025 Form 1040) each quarter. If your 2025 total tax was $8,000, pay $2,000 per quarter. This protects you from underpayment penalties regardless of what you actually owe for 2026.
Option 2: Current year estimate: Estimate your actual 2026 income and calculate 90% of your projected tax liability, split across quarters. More accurate if your income changed significantly from 2025, but requires more calculation and you face penalties if you underestimate by more than 10%.
For most self-employed people, the safe harbor method is simpler and eliminates penalty risk. Use it unless your 2026 income is significantly lower than 2025.
How to Pay in 5 Minutes
- Go to IRS Direct Pay at irs.gov/payments/direct-pay
- Click “Make a Payment”
- Reason for Payment: select “Estimated Tax”
- Apply Payment To: select “1040-ES”
- Tax Period: 2026
- Enter your bank account routing and account number
- Enter the payment amount
- Submit. Free, instant confirmation.
Payments are debited within 1-2 business days. Save the confirmation number. No account registration required.
What Happens If You Miss the Deadline
The underpayment penalty is approximately 7% annualized on the amount you should have paid. On a $2,000 missed payment for one quarter, the penalty is approximately $35. Not catastrophic, but avoidable. If you missed Q1 (April 15), pay as much as possible now to limit the ongoing penalty accrual. You cannot eliminate the Q1 penalty retroactively, but you can stop it from growing.
State Estimated Taxes
Most states with income tax also require quarterly estimated payments. State Q2 deadlines vary: most align with the federal June 15 date but some differ. Check your state’s revenue department for the exact date and payment portal. California’s Q2 estimated tax is also due June 15 (paid through MyFTB.ca.gov).
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Sources: IRS Form 1040-ES instructions; IRS estimated tax payment guidance; IRS underpayment penalty rate. This article is for informational purposes only and does not constitute tax advice.
