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2023 Tax Season: Deadlines for Quarterly Taxes

Taxpayers, especially those with liabilities, should note the quarterly tax deadlines.
Taxpayers, especially those with liabilities, should note the quarterly tax deadlines. (Photo: Getty Images)

As the 2023 tax season continues, taxpayers should take note of the quarterly deadlines, particularly those required by the IRS.

Some taxpayers, especially self-employed people, and gig workers are sometimes required to pay quarterly taxes. Those who fall under this category should take note of the following deadlines:

  • April 18 is the deadline for first-quarter taxes or earnings made from January 1–March 31;
  • June 15 is the deadline for the second quarter taxes or earnings made from April 1–May 31;
  • September 15 is the deadline for the third quarter taxes or earnings made from June 1–August 31; and
  • January 15, 2024, is the deadline for the fourth quarter taxes or earnings made from September 1–December 31.
April 18 is the first-quarter taxes or earnings deadline from January 1–March 31.

April 18 is the first-quarter taxes or earnings deadline from January 1–March 31. (Photo: Yahoo! Finance)

See: California Tax Filing Deadline: See If IRS Extended It

Who are Required to Pay Quarterly Taxes?

The IRS requires some individuals to pay quarterly taxes, especially taxpayers with a tax liability of $1,000 or more annually. Those who underpay might be asked to pay penalties, while those who overpay will receive the excess as a refund. Those who owe a penalty for underpaying can use Form 220 to calculate and figure out the penalty amount. You might have to check your state’s guidelines and due dates, especially if you live in a state with income tax.

The safest and most efficient way to pay taxes is through IRS Direct pay, which directly transfers funds from your bank account to the IRS for free. You can also use a credit or debit card, but you’ll have to pay the transaction fee.

Find Out: Three States Extend its Tax Deadline Due to Storms

More: Extended Tax Deadline for Some California Counties Due to Winter Storm Disaster

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